Real estate with delinquent taxes or liens; appointment of special commissioner; increases required value. Increases from $75,000 to $150,000 the maximum assessment that an individual parcel of land may be valued at to be subject to a locality's appointment of a special commissioner to convey property with delinquent taxes or liens to the locality, the locality's land bank entity, or to an existing nonprofit entity designated by the locality to carry out the functions of a land bank entity in lieu of sale at public auction. Under current law, only localities with a score of 100 or higher on the fiscal stress index published by the Department of Housing and Community Development in July 2020 have a maximum individual parcel assessment of $150,000. The bill contains technical amendments.

Statutes affected:
Introduced: 58.1-3970.1