CHAPTER 655

An Act to amend and reenact § 58-778 of the Code of Virginia, relating
to the assessment of certain real property held by different owners
in two or more parcels.

[H 230]

Approved April 7, 1954
Be it enacted by the General Assembly of Virginia:

1. That § 58-778 of the Code of Virginia be amended and reenacted as

follows:
§ 58-773. When a tract or lot becomes the property of different
owners in * two or more parcels, subsequent to any general reassessment
of real estate in the city, or county in which such tract or lot is situated
made in the year nineteen hundred fifty-four or thereafter, each of the
two or more parcels shall be assessed and shown separately upon the land
books, as required by law. The commissioner of the revenue, in assessing
each lot or parcel, shall assess the same at its fair market value as of the
first day of January of the year next succeeding the year in which the
tract or lot of land becomes the property of several owners, without
regard to the value at which such tract of land was assessed as a whole,
but with regard to other assessments of lots, pieces or parcels of land in
the city or county, and such assessment shall stand until the next general
reassessment of real estate in the city or county. Failure of the owner
or person dividing and selling the land to record a plat thereof shall not
relieve the commissioner of the revenue of the responsibility for assessing
or reassessing any such tract of land when divided as provided for in this
section.

The Commonwealth’s attorney of the county, the * city attorney of
the * city, or a duly authorized person appointed by the governing body,
or any other person aggrieved by any such * assessment made by the
commissioner of the revenue may apply for a correction of the same within
the time and in the manner prescribed by §§ 58-1145 to 58-1151.