Sample Solution

The Fair Trade Property Tax Credit Act of 2019 (HB 2087) was introduced in the Virginia General Assembly on January 8, 2019. The bill was proposed by Delegate Vivian Watts (D-Annandale), and co-sponsored by Delegates Mark Levine (D-Alexandria), Kaye Kory (D-Falls Church) and Lee Carter (D-Manassas). HB 2087 seeks to reduce property taxes for homeowners who have a high ratio of their income going toward property taxes compared to the national or state average. If enacted, this legislation would provide tax relief for those Virginia residents who are classified as “working class” but unable to receive existing tax credits due to their limited incomes.

The impetus behind HB 2087 is twofold; first, to create an equitable distribution of resources among all Virginians, regardless of income level. Second, providing financial assistance through reduced property taxes will allow working class individuals to remain in their homes and better invest in their communities. This bill has been crafted with consideration of the fact that rising housing costs have become increasingly burdensome for many lower-income earners across the Commonwealth–a problem further compounded by stagnant wages and rising living expenses. Moreover, its passage would bring much needed aid to those struggling most with numerous other challenges related to poverty such as access to healthcare and education opportunities for children from low income households

Delegate Watts expressed her hope that passing HB 2087 would make owning a home more affordable while allowing “ordinary citizens [to] stay in [their] neighborhoods” rather than being pushed out due economic pressures (“Virginia House Bill Proposes,” 2019). As she stated during her announcement: “We know how hard it can be simply trying just trying make ends meet month after month…so if you’ve worked hard enough that you can buy a house but still don’t make enough money so you don’t qualify these [existing] programs then we want fairness” (“House Introduces Bill,” 2019).