A. Except as otherwise provided in § 58.1-2609, the equalized assessedvaluation of the property of any public service corporation or other personwith property assessed pursuant to this chapter in any taxing district shallbe made by application of the local assessment ratio prevailing in suchtaxing district for other real estate as most recently determined andpublished by the Department of Taxation.
B. On request of any local taxing district in connection with anyreassessment of property, representatives of the State Corporation Commissionand the Department shall consult with representatives of the district withregard to ascertainment and equalization of values to help assure uniformityof appraisals and assessments in accordance with the provisions of thissection.
C. The Department of Taxation shall furnish to each county, city or town inwhich the property of public service corporations or other persons withproperty assessed pursuant to this chapter represents twenty-five percent ormore of the total assessed value of real estate in such county, city or town,the local assessment ratio to be applied within that county, city or town nolater than April 1 of the year for which it is applicable.
D. The Department of Taxation shall furnish to each county, city or town, byApril 1 of each year, a description of the manner in which the localassessment ratio applicable to the county, city or town for the year wasdetermined. The description furnished by the Department shall include, butnot be limited to, a description of the parcels used, the time period fromwhich sales transactions were drawn, the classification applied by theDepartment to any parcel or transaction, and any mathematical formulas usedin calculating the local assessment ratio.
(Code 1950, § 58-512.1; 1966, c. 541; 1975, c. 620; 1976, c. 687; 1977, c.210; 1979, c. 160; 1983, c. 570; 1984, c. 675; 1993, c. 529; 1999, c. 971.)
A. Except as otherwise provided in § 58.1-2609, the equalized assessedvaluation of the property of any public service corporation or other personwith property assessed pursuant to this chapter in any taxing district shallbe made by application of the local assessment ratio prevailing in suchtaxing district for other real estate as most recently determined andpublished by the Department of Taxation.
B. On request of any local taxing district in connection with anyreassessment of property, representatives of the State Corporation Commissionand the Department shall consult with representatives of the district withregard to ascertainment and equalization of values to help assure uniformityof appraisals and assessments in accordance with the provisions of thissection.
C. The Department of Taxation shall furnish to each county, city or town inwhich the property of public service corporations or other persons withproperty assessed pursuant to this chapter represents twenty-five percent ormore of the total assessed value of real estate in such county, city or town,the local assessment ratio to be applied within that county, city or town nolater than April 1 of the year for which it is applicable.
D. The Department of Taxation shall furnish to each county, city or town, byApril 1 of each year, a description of the manner in which the localassessment ratio applicable to the county, city or town for the year wasdetermined. The description furnished by the Department shall include, butnot be limited to, a description of the parcels used, the time period fromwhich sales transactions were drawn, the classification applied by theDepartment to any parcel or transaction, and any mathematical formulas usedin calculating the local assessment ratio.
(Code 1950, § 58-512.1; 1966, c. 541; 1975, c. 620; 1976, c. 687; 1977, c.210; 1979, c. 160; 1983, c. 570; 1984, c. 675; 1993, c. 529; 1999, c. 971.)
A. Except as otherwise provided in § 58.1-2609, the equalized assessedvaluation of the property of any public service corporation or other personwith property assessed pursuant to this chapter in any taxing district shallbe made by application of the local assessment ratio prevailing in suchtaxing district for other real estate as most recently determined andpublished by the Department of Taxation.
B. On request of any local taxing district in connection with anyreassessment of property, representatives of the State Corporation Commissionand the Department shall consult with representatives of the district withregard to ascertainment and equalization of values to help assure uniformityof appraisals and assessments in accordance with the provisions of thissection.
C. The Department of Taxation shall furnish to each county, city or town inwhich the property of public service corporations or other persons withproperty assessed pursuant to this chapter represents twenty-five percent ormore of the total assessed value of real estate in such county, city or town,the local assessment ratio to be applied within that county, city or town nolater than April 1 of the year for which it is applicable.
D. The Department of Taxation shall furnish to each county, city or town, byApril 1 of each year, a description of the manner in which the localassessment ratio applicable to the county, city or town for the year wasdetermined. The description furnished by the Department shall include, butnot be limited to, a description of the parcels used, the time period fromwhich sales transactions were drawn, the classification applied by theDepartment to any parcel or transaction, and any mathematical formulas usedin calculating the local assessment ratio.
(Code 1950, § 58-512.1; 1966, c. 541; 1975, c. 620; 1976, c. 687; 1977, c.210; 1979, c. 160; 1983, c. 570; 1984, c. 675; 1993, c. 529; 1999, c. 971.)
