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2002 SESSION

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HB 496 Downzoning of property under use value assessment.

Introduced by: Robert D. Orrock, Sr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Downzoning of property under use value assessment. Provides that when the owner of property requests and is granted a downzoning of property that, at the time of the downzoning, was subject to a special use value assessment pursuant to Article 4 (§ 58.1-3229 et seq.) of Chapter 32 of Title 58.1, the assessing locality shall, for a period of 10 years, for purposes of valuation, assessment and taxation, continue to treat such property as if no change in use has occurred.


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