Property Valuation
A Virginia property owner challenges their assessment claiming it is too high. They would file an appeal with the:
AVirginia Real Estate Board
BLocal Board of Equalization or commissioner of the revenue, then circuit court✓ Correct
CVirginia Tax Commissioner directly
DFederal Tax Court
Explanation
Virginia property assessment appeals go first to the local Board of Equalization or the commissioner of the revenue. Further appeals go to the circuit court and potentially the Court of Appeals.
Related Virginia Property Valuation Questions
- Under USPAP (Uniform Standards of Professional Appraisal Practice), a Virginia appraiser must:
- A Virginia appraiser must comply with which set of professional standards?
- Functional obsolescence in an appraisal refers to a loss in value due to:
- Effective age in appraisal refers to:
- The highest and best use of a property in Virginia appraisal is defined as the use that is:
- The Virginia real estate market in the Roanoke Valley differs from Northern Virginia primarily in terms of:
- An appraiser using the sales comparison approach in Northern Virginia adjusts a comparable sale for a feature the subject property has but the comparable lacks. This adjustment is:
- When appraising a Virginia commercial property, an appraiser uses the direct capitalization method. Which formula correctly expresses this?
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