ARTICLE I. IN GENERAL
Sec. 21-7.7.
Abatement of levies on buildings
razed, destroyed, or damaged by natural or accidental events
Buildings
which are razed, destroyed, or damaged due to a natural or accidental event
and through no fault of the owner shall receive an abatement for real estate
tax levies computed according to the ratio which the portion of the year the
building was fit for use, occupancy, or enjoyment bears to the entire year.
No such abatement shall occur unless:
1. The destruction or damage to such building decreases its value by $500 or
more;
2. The destruction or damage to such building renders it unfit for use and
occupancy for 30 or more days during the year; and
3. The owner of such building makes application for the abatement within six
months of the date on which the building was razed, destroyed, or damaged.
State law reference – Code of Va., §58.1-3222.
(Ord.
No. 03-40, 11/18/03) |