                                 CODE OF VIRGINIA

PROPERTY TO REFLECT CHANGE IN MARKET VALUE (§ 10.1-2207)

Where the Commonwealth has obtained from a landowner an easement or other
partial interest in property which places restrictions on the use or development
of that property so as to preserve those features which led to the designation
of that property as an historic landmark, the easement or other partial interest
shall be recorded in the clerk&#8217;s office of the county or city where deeds
are admitted to record. Assessments for local taxation of the property shall
reflect any resulting change in the market value of the property, as prescribed
by § 58.1-3205. The Director shall notify the official having the taxing power
to make assessments of properties for purposes of taxation within the locality
of the restrictions that have been placed on the property.

HISTORY: 1966, c. 632, §§ 10-138, 10-139; 1984, cc. 675, 750; 1986, c. 608;
1988, c. 891, § 10.1-808; 1989, c. 656.