1973 Resolutions - Laserfiche WebLink

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general laws of the Com~aonwealth except as hereafter provided subsection (b) hereof. (b) (1) In lieu of the method now prescribed by general law. the council shall provide for the annual assessment of real estate for~taxation. To that end it shall appoint a single assessor _~ofrreal estate-~o-assess such zeal estate for taxation to-serve at the pleasure of the council. It may prescribe the duties of such assessor, may require that he give his entire time to the duties of his office, may fix his compensation, which shall be payable out of the treasury of the city, and may provide for such technical and clerical assistance as may be necessary and advisable and for the payment of any other expenses that may be properly incident there- to. The annual assessments shall be completed by the assessor by the thirty-first day of January of the tax year in which they are made. ¢7% The beginning of the tax year for the assessment of taxes on real estate shall be July the first, and the owner of real estate on'that day shall he assessed for the taxes for ithe tax year beginnina on that day. Ail such real estate shall be assessed at its fair market value and the taxes for each year on such real es- tate shall be extended on the basis of the last assessment made prior to sUch year, subject to such changes as may have been law- fully made. (3) Ail duties that heretofore devolved upon the com- missioner Of the revenue of the city with respect to the assess- ment of real estate shall be transferred to and devolve upon the assessor appointed pursuant to this subsection. The a~sessor shall prepare the land books and extend the taxes thereon and perform all the duties required by law to be performed by the commissioner of the revenue in respect to real estate assessments. The clerks of the courts of the city shall furnish to the assessor the list of real estate transfers now required to be furnished to ~he commission- er of the revenue. (4) Notwithstanding the provisions of S 584895, of the Code of Virginia, the judges of the circuit court ~ h~s~ngs of the city shall, annually, a~po±nt fo~ t-~ ~ity a board ~f equali- zation of real estate assessments, to be composed of t~ree members, who shall be citizens and freeholders of the city. The, terms of such members shall commence on their appoin~nent and s~all expire on the thirtieth day of April of the year in which the~ are appoint- ed. The appointing authority shall fill any vacancy for the un- expired term. The members of the board shall receive per diem com- pensation for the time actually engaged in the duties of the board, -2-