Real estate; assessment of property devoted to water-dependent use. (HB1328)

Introduced By

Del. Rob Wittman (R-Montross) with support from co-patron Sen. Lynwood Lewis (D-Accomac)

Description

Assessment of real estate devoted to water-dependent use. Establishes and defines, for special assessment for land preservation, real estate devoted to water-dependent use. Consistent with constitutional mandate for establishing and defining such real estate, the bill provides that the General Assembly has determined that the classification of real estate devoted to water-dependent use is in the public interest for the preservation or conservation of such real estate. All provisions applicable to real estate devoted to agricultural, horticultural, forestal, and open space uses apply equally to real estate devoted to water-dependent use. In addition, the commissioner of the revenue or duly appointed assessor shall value real estate devoted to water-dependent use in the same manner he values real estate devoted to agricultural, horticultural, forestal, or open space use. Moreover, if property is subsequently rezoned to water-dependent, it shall be eligible for consideration for special assessment and taxation only after three years have passed since the rezoning was effective. Furthermore, the Director of the Department of Conservation and Recreation, the State Forester, and the Commissioner of Agriculture and Consumer Services shall provide, to the commissioner of the revenue or duly appointed assessor of each locality adopting a land-use plan, a statement of the standards which shall be applied uniformly throughout the Commonwealth in determining whether real estate is devoted to water-dependent use. The provisions of this act become effective on January 1, 2009 upon the passage of a constitutional amendment authorizing such provisions. Read the Bill »

Outcome

History