Subject:
Title
Consider approving a refund of real estate taxes.
Body
Presented By: Chris Brown, City Attorney
Recommendation and Review
In February 2019, the city real estate office sent out income and expense requests to income producing properties. The owner responded with income information and an independent appraisal on the property. After review of what was provided, the real estate office requested and obtained additional information that lead to a correction of the assessment on the property for the current year and three (3) years back. § 58.1-3981 of the Code of Virginia requires City Council approval of any refunds in excess of $2,500.
Refund of $3,561.48 for 2016 real estate taxes; $4,998.00 for 2017 real estate taxes and $4,998.00 for 2018 real estate taxes.