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Z~N OPJDINANCE TO A~!END C?LiPTER S OF THE CODE OF THE CI%~~ OF PORTSMOUth. VIRGINIA. 1951, BY ADDING THERETO A N~V ARTICLE NL%~ERED IV (E), CONSISTING OF SECTIONS 8-1.55 THROUGH 8-1~71. INCLUSIVE. TO PROVIDE FOR THE At. UAL ASSESSMENT OF REAL ESTATE FOR TA~&TION BY A SINGLE ASSESSOR. HIS APPOINT%lENT, DUTIES AND POWERS, EQUALIZATION OF SUCH ASSESSMENTS AND PROVIDING PENALTIES FOR VIOLATION THEREOF. Be it ordained by the Council of the City of Portsmouth, Virginia, that Chapter $ of the Code of the City of Portsmouth, Virginia, 1951, be amended by adding thereto a new article nlLmberea IV (E), consisting of Sections 8-1.55 through 8-1.71, inclusive, zo read as follows: Article IV (E) o Real Estate Assessment. Section 8-1o55. Annual Assessment Required. All real estate in the City not exempted from taxation by the Constitu- tion of Virginia and not assessable for taxation by th~ State Corporation Com- mission as provided by law shall be assesses annually, for taxation oy the City, and for that purpose the office of City Assessor is hereby created, Section 8-1~56, City Assessor - Appointment Powers and Duties. Such annual assessmen~ shall be made by a single assessor appointed by fhe Council for such purpose, who shall give his entire time ~o the duties of his office~ He shall hold office during the pleasure of the Council. He shall be kno~ as the City Assessor and he shall have all the powers and duties prescribed by the laws of this Commonwealth for assessors of real estate and all the duties now devolved upon the Commissioner of the ~evenue of the City with respect to the assessmen~ of real estate for taxation shall be transferred to and devolve upon the City Assessor upon his taking the ~ath of office, and he shall on the first day of January in each Tear LherCafter, or as soon there- after as possible, submit ~n writing ~o the Commissioner of the Revenue all changes of assessments for that 5ax year. and perform all other duties required by law 5o be performed by the Co~:issioner of the Revenue with respect 5o assess- ment of real estate for taxation, except as otherwise specifically provideo herein_ Section 8-1.57. Same - Procedure, The Citv Assessor shall assess annually for taxation at its fair market value all real estate within the City subject to assessment by him, which shall include all lands buildings, structures and improvements thereon and all thereto and interests therein, and h~ shall have the right and power to do all tion and other cases 'where the same is nor practicable, such assessments shall be completed not later than the thirty-first day of August of the year preceding the year for which the same shall be effective, and taxes for eacn year on such real estate shall be mad~ on the basis of the last assessment made prior ~o such year, suhjec~ to such changes as may have been lawfully made.