(A) Purpose. The purpose of the real estate tax abatement program (hereinafter, "the program") is to provide a financial incentive for a citizen, who owns property on which a derelict building stands, to improve the appearance of said property by either demolishing or renovating the derelict building.
(B) Definition. For purposes of this section the following definition shall apply unless the context clearly indicates or requires a different meaning.
DERELICT BUILDING. A residential or nonresidential building or structure, whether or not construction has been completed, that might endanger the public's health, safety, or welfare and which, for a continuous period of six months, has been:
(a) Vacant;
(b) Boarded up in accordance with the building code; and
(c) Not lawfully connected to electric service from a utility service provider or not lawfully connected to any required water or sewer service from a utility service provider.
(C) Procedure for participation.
(1) Prior to commencement of a plan to demolish or renovate a derelict building, at the request of a property owner, the commissioner of revenue shall make an assessment of the property in its current derelict condition.
(2) On the building permit application, the owner shall declare the costs of demolition or the costs of materials and labor to complete the renovation.
(3) Upon the additional request of the property owner after demolition or renovation of the derelict building, the Commissioner of Revenue shall determine the fair market value of the demolition costs, or the fair market value of the renovation improvements, and shall reflect such costs or value in the real estate tax assessment records.
(D) Abatement of tax. The real estate tax on an amount equal to the costs of demolition or an amount equal to the increase in the fair market value of the renovations shall be abated for 15 years, such abatement being transferable with the property.
(E) Exclusions. The abatement of taxes for demolition shall not apply if the structure demolished is a registered Virginia landmark or is determined by the Department of Historic Resources to contribute to the significance of a registered historic district.
(Ord. passed 6-12-2018)
Cross reference:
Demolition of derelict buildings, see § 94.03