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ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
1994 SESSION
Be it enacted by the General Assembly of Virginia:
1. That §§ 58.1-3220, 58.1-3220.1 and 58.1-3221 of the Code of Virginia are amended and reenacted as follows:
§ 58.1-3220. Partial exemption for certain rehabilitated, renovated or replacement residential structures.
A. The governing body of any county, city or town may, by ordinance, provide
for the partial exemption from taxation of real estate on which a
any structure or other improvement no less than twenty-five
years of age has been substantially rehabilitated
undergone substantial rehabilitation, renovation or replacement for
residential use, subject to such conditions as the ordinance may prescribe.
The ordinance may, in addition to any other restrictions hereinafter
provided, restrict such exemptions to real property located within described
zones or districts whose boundaries shall be determined by the governing
body. The governing body of a county, city or town may establish criteria for
determining whether real estate qualifies for the partial exemption
authorized by this provision and may require such structures to be older than
twenty-five years of age, or place such other restrictions and conditions on
such property as may be prescribed by ordinance. Such ordinance may also
provide for the partial exemption from taxation of multifamily residential
units which have been substantially rehabilitated by replacement for
multifamily use. Such replacement structures may exceed the total square
footage of the replaced structures by no more than thirty percent.
B. The partial exemption provided by the local governing body may be an
amount equal to the increase in assessed value resulting from the
rehabilitation or, renovation or replacement of the
structure as determined by the commissioner of revenue or other local
assessing officer or an amount up to fifty percent of the cost of the
rehabilitation, renovation or replacement, as determined by ordinance.
The exemption may commence upon completion of the rehabilitation,
renovation or replacement or on January 1 of the year following
completion of the rehabilitation, renovation or replacement and shall
run with the real estate for a period of no longer than ten years. The
governing body of a county, city or town may place a shorter time limitation
on the length of such exemption, or reduce the amount of the exemption in
annual steps over the entire period or a portion thereof, in such manner as
the ordinance may prescribe.
C. Nothing in this section shall be construed as to permit the commissioner of the revenue to list upon the land book any reduced value due to the exemption provided in subsection B.
D. The governing body of any county, city or town may assess a fee not to
exceed twenty fifty dollars for processing an application
requesting the exemption provided by this section. No property shall be
eligible for such exemption unless the appropriate building permits have been
acquired and the commissioner of the revenue or assessing officer has
verified that the rehabilitation, renovation or replacement indicated
on the application has been completed.
E. Where rehabilitation is achieved through demolition and replacement of an existing structure, the exemption provided in subsection A shall not apply when any structure demolished is a registered Virginia landmark or is determined by the Department of Historic Resources to contribute to the significance of a registered historic district.
§ 58.1-3220.1. Partial exemption for certain rehabilitated, renovated or replacement hotel or motel structures.
A. The governing body of any county, city or town may, by ordinance, provide
partial exemption from taxation of real estate on which a hotel or motel no
less than thirty-five years of age has been substantially
rehabilitated undergone substantial rehabilitation, renovation or
replacement for residential use, subject to such conditions as the
ordinance may prescribe. The ordinance may, in addition to any other
restrictions hereinafter provided, restrict such exemptions to real property
located within described zones or districts whose boundaries shall be
determined by the governing body. The governing body of a county, city or
town may establish criteria for determining whether real estate qualifies for
the exemption authorized by this provision and may require such structures to
be older than thirty-five years of age, or place such other restrictions and
conditions on such property as may be prescribed by ordinance.
B. The term "partial exemption" shall be stated in the ordinance
as either provided by the local governing body may not exceed either
an amount equal to ninety percent of the total assessed value of the
rehabilitated or, renovated or replaced structure or an
amount equal to the increase in assessed value resulting from the
rehabilitation or, renovation or replacement of the
structure as determined by the commissioner of the revenue or other local
assessing officer, as established by ordinance. The partial exemption
may commence upon completion of the rehabilitation, renovation or
replacement or on January 1 of the year following completion of the
rehabilitation, renovation or replacement and shall run with the real
estate for a period of no longer than twenty-five years. The governing body
of a county, city or town may place a shorter time limitation on the length
of such exemption, or reduce the amount of the exemption in annual steps over
the entire period or a portion thereof, in such manner as the ordinance may
prescribe.
C. Nothing in this section shall be construed as to permit the commissioner of the revenue to list upon the land book any reduced value due to the exemption provided in subsection B.
D. The governing body of any county, city or town may assess a fee for processing an application requesting the exemption provided by this section. No property shall be eligible for such partial exemption unless the appropriate building permits have been acquired and the commissioner of the revenue or assessing officer has verified that the rehabilitation, renovation or replacement indicated on the application has been completed.
E. Where rehabilitation is achieved through demolition and replacement of an existing structure, the exemption provided in subsection A shall not apply when any structure demolished is a registered Virginia landmark or is determined by the Department of Historic Resources to contribute to the significance of a registered historic district.
§ 58.1-3221. Partial exemption for certain rehabilitated, renovated or replacement commercial or industrial structures.
A. The governing body of any county, city or town may, by ordinance, provide
for the partial exemption from taxation of real estate on which a
any structure or other improvement no less than twenty-five
years of age has been substantially rehabilitated
undergone substantial rehabilitation, renovation or replacement for
commercial or industrial use, subject to such conditions as the ordinance may
prescribe. The ordinance may, in addition to any other restrictions
hereinafter provided, restrict such exemptions to real property located
within described zones or districts whose boundaries shall be determined by
the governing body. The governing body of a county, city or town may
establish criteria for determining whether real estate qualifies for the
partial exemption authorized by this provision and may require the structure
to be older than twenty-five years of age, or place such other restrictions
and conditions on such property as may be prescribed by ordinance.
B. The partial exemption provided by the local governing body may not exceed an amount equal to the increase in assessed value resulting from the rehabilitation, renovation or replacement of the commercial or industrial structure as determined by the commissioner of revenue or other local assessing officer or an amount up to fifty percent of the cost of rehabilitation, renovation or replacement as determined by ordinance. The exemption may commence upon completion of the rehabilitation, renovation or replacement or on January 1 of the year following completion of the rehabilitation, renovation or replacement and shall run with the real estate for a period of no longer than ten years. The governing body of a county, city or town may place a shorter time limitation on the length of such exemption, or reduce the amount of the exemption in annual steps over the entire period or a portion thereof, in such manner as the ordinance may prescribe.
C. Nothing in this section shall be construed as to permit the commissioner of the revenue to list upon the land book any reduced value due to the exemption provided in subsection B.
D. The governing body of any county, city or town may assess a fee not to
exceed twenty fifty dollars for processing an application
requesting the exemption provided by this section. No property shall be
eligible for such exemption unless the appropriate building permits have been
acquired and the commissioner of the revenue or assessing officer has
verified that the rehabilitation, renovation or replacement indicated
on the application has been completed.
E. Where rehabilitation is achieved through demolition and replacement of an existing structure, the exemption provided in subsection A shall not apply when any structure demolished is a registered Virginia landmark or is determined by the Department of Historic Resources to contribute to the significance of a registered historic district.