A Virginia homeowner receives her annual property tax bill and notices it is significantly higher than the previous year due to a general reassessment. She asks her real estate agent whether she can challenge the new assessment. The agent correctly advises her that in Virginia, a property owner who disagrees with a reassessment should first:
Correct Answer
D) Contact the local board of equalization or assessor's office to request a review
Under Va. Code § 58.1-3379 and § 58.1-3984, the proper first step to challenge a property tax assessment in Virginia is to appeal to the local board of equalization or contact the local assessor's office to request an informal review or formal hearing. This administrative process must be pursued before seeking judicial relief in Circuit Court.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Depreciation is an accounting method of allocating the cost of an asset over its useful life, allowing investors to deduct a portion of the asset's cost each year.
Highest and best use is an appraisal concept that identifies the most profitable, legally permitted, physically possible, and financially feasible use of a property. It is the foundation of all property valuation.
Homestead portability allows homeowners to transfer a portion of their accumulated homestead tax savings to a new homestead in the same state.
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