Monday, October 27, 2003

New standard for relief from real property assessments in Virginia

I don't know but I've been told that 2003 Acts of Assembly, Chap. 1036, changes the standard for getting relief from tax assessments. In particular, Va. Code § 58.1-3379(c) as of January 1, 2004, will provide: "The burden of proof shall be upon a taxpayer seeking relief to show that the property in question is valued at more than its fair market value, that the assessment is not uniform in its application, or that the assessment is otherwise not equalized. In order to receive relief, the taxpayer must produce substantial evidence that the valuation determined by the assessor is erroneous and was not arrived at in accordance with generally accepted appraisal practice. Mistakes of fact, including computation, that affect the assessment shall be deemed not to be in accordance with generally accepted appraisal practice."

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