These are highlights of the tax relief plan and associated policies announced yesterday by Lt. Gov. Timothy M. Kaine, Democratic candidate for governor.
Homestead exemption: Proposed a state constitutional amendment to allow localities to exempt up to 20 percent of a farm's or home's assessment from the homeowner's tax.
Additions and rehabilitations: Proposed a real estate tax abatement program similar to one he backed as a council member and mayor in Richmond. That abatement exempted additions and renovations from taxes for 15 years.
Public school assistance: Proposed to fully fund the state's share of K-12 education, which he said would reduce pressure to increase local real estate taxes.
Unfunded mandates: Pledged to veto any bill that would have a fiscal impact on local governments unless the legislature also provides the funds to implement the legislation.
