§ 58.1-3665. Partial exemption for erosion control improvements.
A. Real estate that has been improved through the placement of rock orconcrete breakwaters, bulkheads, gabions, revetments, or similar structuralimprovements installed to control erosion, and is used primarily for thepurpose of abating or preventing pollution of the waters of the Commonwealth,is hereby declared to be a separate class of property and shall constitute aclassification for local taxation separate from other classifications of realproperty. The governing body of any county, city or town may, by ordinance,provide for the partial exemption from local taxation of such real estate,subject to such conditions and restrictions as the ordinance may prescribe.The governing body of a county, city or town may establish criteria fordetermining whether real estate qualifies for the partial exemptionauthorized by this section.
B. The partial exemption authorized by this section shall not exceed (i) allor a portion of the increase in the assessed value of the real propertyresulting from the placement of the structural improvements described insubsection A, as determined by the commissioner of revenue or other localassessing officer, or (ii) fifty percent of the cost of such improvements, asdetermined by the governing body of the county, city or town. Any exemption(i) may commence upon completion of the improvements or on January 1 of theyear following such completion and (ii) shall run with the real estate for aperiod not to exceed fifteen years. The governing body of the county, city ortown may provide that the amount or percentage of an exemption shall decreasein annual steps over the entire fifteen-year exemption period or a portionthereof.
C. Nothing in this section shall be construed to permit the commissioner ofrevenue or other local assessing officer to list upon the land book anyreduced value due to the exemption provided pursuant to subsection B.
D. The governing body of any county, city or town is authorized to assess afee, not to exceed fifty dollars, for processing an application requestingthe exemption authorized by this section. No property shall be eligible forsuch exemption unless any appropriate permits have been obtained and thecommissioner of the revenue or other assessing officer has verified that theimprovements described on the application have been completed.
§ 58.1-3665. Partial exemption for erosion control improvements.
A. Real estate that has been improved through the placement of rock orconcrete breakwaters, bulkheads, gabions, revetments, or similar structuralimprovements installed to control erosion, and is used primarily for thepurpose of abating or preventing pollution of the waters of the Commonwealth,is hereby declared to be a separate class of property and shall constitute aclassification for local taxation separate from other classifications of realproperty. The governing body of any county, city or town may, by ordinance,provide for the partial exemption from local taxation of such real estate,subject to such conditions and restrictions as the ordinance may prescribe.The governing body of a county, city or town may establish criteria fordetermining whether real estate qualifies for the partial exemptionauthorized by this section.
B. The partial exemption authorized by this section shall not exceed (i) allor a portion of the increase in the assessed value of the real propertyresulting from the placement of the structural improvements described insubsection A, as determined by the commissioner of revenue or other localassessing officer, or (ii) fifty percent of the cost of such improvements, asdetermined by the governing body of the county, city or town. Any exemption(i) may commence upon completion of the improvements or on January 1 of theyear following such completion and (ii) shall run with the real estate for aperiod not to exceed fifteen years. The governing body of the county, city ortown may provide that the amount or percentage of an exemption shall decreasein annual steps over the entire fifteen-year exemption period or a portionthereof.
C. Nothing in this section shall be construed to permit the commissioner ofrevenue or other local assessing officer to list upon the land book anyreduced value due to the exemption provided pursuant to subsection B.
D. The governing body of any county, city or town is authorized to assess afee, not to exceed fifty dollars, for processing an application requestingthe exemption authorized by this section. No property shall be eligible forsuch exemption unless any appropriate permits have been obtained and thecommissioner of the revenue or other assessing officer has verified that theimprovements described on the application have been completed.
§ 58.1-3665. Partial exemption for erosion control improvements.
A. Real estate that has been improved through the placement of rock orconcrete breakwaters, bulkheads, gabions, revetments, or similar structuralimprovements installed to control erosion, and is used primarily for thepurpose of abating or preventing pollution of the waters of the Commonwealth,is hereby declared to be a separate class of property and shall constitute aclassification for local taxation separate from other classifications of realproperty. The governing body of any county, city or town may, by ordinance,provide for the partial exemption from local taxation of such real estate,subject to such conditions and restrictions as the ordinance may prescribe.The governing body of a county, city or town may establish criteria fordetermining whether real estate qualifies for the partial exemptionauthorized by this section.
B. The partial exemption authorized by this section shall not exceed (i) allor a portion of the increase in the assessed value of the real propertyresulting from the placement of the structural improvements described insubsection A, as determined by the commissioner of revenue or other localassessing officer, or (ii) fifty percent of the cost of such improvements, asdetermined by the governing body of the county, city or town. Any exemption(i) may commence upon completion of the improvements or on January 1 of theyear following such completion and (ii) shall run with the real estate for aperiod not to exceed fifteen years. The governing body of the county, city ortown may provide that the amount or percentage of an exemption shall decreasein annual steps over the entire fifteen-year exemption period or a portionthereof.
C. Nothing in this section shall be construed to permit the commissioner ofrevenue or other local assessing officer to list upon the land book anyreduced value due to the exemption provided pursuant to subsection B.
D. The governing body of any county, city or town is authorized to assess afee, not to exceed fifty dollars, for processing an application requestingthe exemption authorized by this section. No property shall be eligible forsuch exemption unless any appropriate permits have been obtained and thecommissioner of the revenue or other assessing officer has verified that theimprovements described on the application have been completed.
