Friday, October 10, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
SB765: Real property assessments; certain restrictions in determining fair market value.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Article 7 of Chapter 32 of Title 58.1 a section numbered 58.1-3296 as follows:
§ 58.1-3296. Assessment of real property designated as a resource protection area.
For any "resource protection area" as defined in 9 VAC 10-20-40 of the Chesapeake Bay Preservation Area Designation and Management Regulations (9 VAC 10-20 et seq.) authorized pursuant to the Chesapeake Bay Preservation Act (§ 10.1-2100 et seq.), any restrictions (as a result of such classification or designation) on the use or development of land situated in such area shall be considered by the duly authorized real estate assessor in determining fair market value.
Additional Data
Explanation
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Words that are highlighted in yellow are
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red are proposed removals.
The numbers with the § symbol before them are references to existing laws, and if you click on them they’ll take you to that part of the law on the state's website.