§ 2-1127. Composition; alternate member; election of officers; terms of office; duties; minutes.

(a)

Composition. The Board shall be composed of three members appointed by the Circuit Court of the City of Richmond in accordance with Code of Virginia, § 58.1-3373. The Circuit Court of the City of Richmond shall appoint the members of the Board in each tax year immediately following the year an annual assessment is conducted. All members of the Board shall be residents, a majority of whom shall be freeholders, in the City of Richmond and shall be selected from the citizens of the City of Richmond. Appointments to the Board shall be broadly representative of the community. Thirty percent of the members of the Board shall be commercial or multifamily residential real estate appraisers who are licensed and certified by the Virginia Real Estate Appraiser Board to serve as general real estate appraisers, other commercial or multifamily real estate professionals or licensed commercial or multifamily real estate brokers, builders, developers, active or retired members of the Virginia State Bar, or other legal or financial professionals whose area of practice requires or required knowledge of the valuation of property, real estate transactions, building costs, accounting, finance or statistics. In accordance with Code of Virginia, § 58.1-3374, for purposes of this section, commercial or multifamily residential property shall be defined as any property that is either operated as or zoned for use as commercial, industrial or multifamily residential rental property.

(b)

Alternate member. In addition to regular members, the Circuit Court of the City of Richmond shall appoint one alternate member. The qualifications and compensation of the alternate member shall be the same as those of regular members. A regular member, when such member knows that such member will be absent or will have to abstain from any proceeding at a meeting, shall notify the Chairman of the Board elected in accordance with Subsection (c) of this section at least 24 hours prior to the meeting of such fact. The Chairman may select the alternate to serve in the absent or abstaining member's place and the records of the Board shall so note. The alternate member may vote on any proceeding in which a regular member is absent or abstains.

(c)

Election of officers. The Board shall elect one of its members as Chairman and another as Secretary.

(d)

Terms of office. Of the members initially appointed, one member shall be appointed for a term of one year, one member shall be appointed for a term of two years, and one member shall be appointed for a term of three years. As the terms of the initial members expire, their successors shall be appointed for terms of three years. The alternate member shall be appointed for a two-year term. Any vacancy shall be filled for the remainder of an unexpired term by appointment of the Circuit Court of the City of Richmond.

(e)

Duties. The Board shall hear complaints that real property is assessed at more than fair market value. Except as otherwise provided by the Code of Virginia, the Board shall establish the fair market value of real property as of January 1 of the applicable year. The Board shall hear and give consideration to such complaints, shall adjust and equalize such assessments and shall increase and decrease assessments, whether specific complaint be laid or not, if, in its judgment, the same be necessary to equalize and accomplish the end that the burden of taxation shall rest equally upon all citizens of the City of Richmond. The Board shall hear and determine any and all such petitions and, by order on a form prepared by the Tax Commissioner of the Virginia Department of Taxation or on a form developed by the Board containing all the information required on the forms prepared by the Tax Commissioner of the Virginia Department of Taxation, may increase, decrease or affirm the assessment of which complaint is made; and, by order, it may increase or decrease any assessment, upon its own motion. No assessment shall be increased until after the owner of the property has been notified and given an opportunity to show cause against such increase. In addition, no assessment shall be increased on commercial, multifamily residential, or industrial property unless such increase is recommended by the City Assessor in compliance with the provisions of Code of Virginia, § 58.1-3379.

(f)

Minutes. The Board shall keep minutes of its meetings and enter therein all orders made and transmit promptly copies of such orders as relate to the increase or decrease of assessments to the property owner, the City Assessor and the Director of Finance.

(Code 2004, § 2-1072; Ord. No. 2014-107-81, § 1, 5-27-2014)

State Law reference— Similar provisions, Code of Virginia, §§ 58.1-3373, 58.1-3374, 58.1-3376, 58.1-3379, 58.1-3383, 58.1-3384.

(Code 2004, § 2-1072; Ord. No. 2014-107-81, § 1, 5-27-2014)

State law reference

Similar provisions, Code of Virginia, §§ 58.1-3373, 58.1-3374, 58.1-3376, 58.1-3379, 58.1-3383, 58.1-3384.