Lege TREND. Taxes on Land Taken by Eminent Domain.

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March 28, 2019

Is providing tax relief when land is taken by eminent domain unusual?

No, the IRS provides for it as well allowing for any gains to be rolled into similar investments without incurring an immediate tax on the gains.

Business Advocate | Virginia exempts gain from eminent domain condemenation from its income tax

Refreshing Recollection:

Lege TREND. Tax Breaks When Your Land is Taken By Eminent Domain

The Bill: Virginia’s SB 1256 (VA | 2019)

Would provide a tax break for any gains on a forced sale
Applies to residential and commercial land

Bacon’s Rebellion | Taking Some Pain Out of Eminent Domain.