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(a) Blighted property, along with the land such building is located on, shall be <br />classified as blighted property, and shall be taxed at a rate of 5% more than the <br />prevailing tax rate applicable to the general class of real property (the "Blighted <br />Property Tax Rate"). <br />(b) A derelict building, along with the land such building is located on, shall be <br />classified as derelict property, and shall be taxed at a rate of 10% more than the <br />prevailing tax rate applicable to the general class of real property (the "Derelict <br />Building Tax Rate"). <br />The Blighted Property Tax Rate and the Derelict Building Tax Rate assessed against any <br />property, shall be effective as of the first quarter following the date the aforementioned <br />classifications have been made to such property, and those properties shall continue to be <br />assessed at such rates until it has been determined by the city assessor that such property <br />no longer constitutes blighted property or a derelict building. <br />Sec. 35-114. Lists to be maintained. <br />The city assessor shall maintain a list of properties declared blighted property or a <br />derelict building pursuant to this division, and the tax rate for each of the properties subject <br />to such classifications. The city assessor shall remove such properties from such list upon <br />a determination that the properties no longer constitute a blighted property or a derelict <br />building, which determination may be based upon a declaration by the city manager, their <br />designee, or the building official. <br />Sec. 35-115. Appeals. <br />Property owners may contest a designation of property as a blighted property or a <br />derelict building under the appeals process for erroneous real estate assessments, as <br />provided in Code of Virginia, § 58.1-3980 et seq. <br />A-2 <br />