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Code of Virginia (Title 58.1 — Taxation)

Va. Code § 58.1-3202

Taxation of certain multi-unit real estate

Official textlaw.lis.virginia.gov

Beginning with assessments effective on January 1, 1984, the fair market value of multi-unit real estate leased primarily to residential tenants shall be determined without regard to its potential for conversion to condominium or cooperative ownership. A sale of apartment property shall not be presumed to be for such conversion unless overt action which is a prerequisite to conversion by the buyer has been taken within three months from the recordation of the deed.

Last amended: Code 1950, § 58-760; 1982, c. 619; 1983, cc. 556, 570; 1984, c. 675.

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Nearby sections (25 sections)
  1. 58.1-3169 · Interest chargeable against treasurer for failure to pay…
  2. 58.1-3170 · Reserved
  3. 58.1-3171 · Attorney General to proceed against delinquent treasurers…
  4. 58.1-3172 · Lien of judgment and execution in such proceeding
  5. 58.1-3172.1 · Remote access to nonconfidential public records…
  6. 58.1-3173 · System of accounting
  7. 58.1-3174 · Entries
  8. 58.1-3175 · Statement and payment of amounts collected
  9. 58.1-3176 · Commissions on collections
  10. 58.1-3177 · Duties of the clerk; deposit of funds; investment of funds;…
  11. 58.1-3200 · Real estate subject to local taxation; taxable real estate…
  12. 58.1-3201 · What real estate to be taxed; amount of assessment; public…
  13. 58.1-3202 · Taxation of certain multi-unit real estate
  14. 58.1-3203 · Taxation of certain leasehold interests; concessions
  15. 58.1-3204 · Lands acquired from United States, etc., when beneficial…
  16. 58.1-3205 · Assessment of real property where interest less than fee is…
  17. 58.1-3210 · Exemption or deferral of taxes on property of certain…
  18. 58.1-3211 · Repealed
  19. 58.1-3211.1 · Prorated tax exemption or deferral of tax
  20. 58.1-3212 · Local restrictions and exemptions
  21. 58.1-3213 · Application for exemption
  22. 58.1-3213.1 · Notice of local real estate tax exemption or deferral…
  23. 58.1-3214 · Absence from residence
  24. 58.1-3215 · Effective date; change in circumstances
  25. 58.1-3216 · Deferral programs; taxes to be lien on property
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