Real property tax assessment; Department of Taxation to establish qualifications for certification. (HB430)

Introduced By

Del. Morgan Griffith (R-Salem)

Description

Real property tax assessment.  Provides (i) that the fair market value of certain affordable housing be determined using income production assessment methodology, based on the property's current use and restrictions; (ii) additional requirements for real estate assessors; (iii) that a locality's real property sales assessment ratio higher than 110 percent is prima facie proof that the locality has failed to assess at 100 percent of fair market value; (iii) taxpayers access to certain information related to assessments; and (iv) additional requirements related to boards of equalization.   View Full Text »

Outcome

11 votes