Article II. ASSESSMENT OF REAL ESTATE

Section 1. The board of supervisors or other governing body of any county adjoining any city within this state having a population of more than 190,000, according to the latest preceding United States census, or any county which has an area of less than 70 square miles of highland, may, in lieu of the method now prescribed by law, provide for the annual assessment and equalization of assessments of real estate in such county, for local taxation, and to that end may establish a real estate assessment office and elect one or more persons to assess such real estate for taxation and to equalize such assessments. The term or terms of such assessor or assessors shall be as prescribed by such board of supervisors, or other governing body. The assessor or assessors shall be removable by such board or governing body for malfeasance, misfeasance or non-feasance in office. All vacancies shall be filled by such board of supervisors or governing body for the unexpired term.

Section 2. The board of supervisors or other governing body of any such county may prescribe the duties of such assessor or assessors insofar as they are not prescribed by this act, and fix his or their compensation, and may provide for such clerical assistance and other expenses as may be necessary, in the opinion of such board or governing body. All salaries, expenses and other costs of the real estate assessment office shall be payable out of the county treasury.

Section 3. In any county operating under this act, all duties imposed and all powers conferred by law on the commissioner of the revenue with respect to the assessment of real estate shall be transferred to and vested in the assessor or assessors elected pursuant to this act, except that the commissioner of the revenue shall continue to prepare the land book and make disposition of the copies thereof as required by law. The land book shall be prepared by the commissioner of the revenue on the basis of the assessments made by the assessor or assessors and certified to him. Transfers shall be verified by the commissioner of the revenue.

Section 4. All real estate shall be assessed at its fair market value as of January 1 of each year by such assessor or assessors, and taxes for each year on such real estate shall be extended by the commissioner of the revenue on the basis of the last assessment made prior to such year, subject to such changes as may have been lawfully made.

Section 5. Any person aggrieved by any assessment made under the authority of this act may apply for relief to the circuit court of the county in which such assessment was made, in the manner prescribed by section 414 of the Tax Code of Virginia [§§ 58.1-3984 through 58.1-3989].

Section 6. This act shall not apply to the assessment of any real estate assessable under the law by the state corporation commission.

Section 7. The board of supervisors or other governing body of any such county may act under this act in and for the year 1942 as well as for succeeding years, and may provide that such action under this act in and for the year 1942 shall be in lieu of the general reassessment and equalization of real estate which would otherwise be had in such county under now existing law in the year 1942; and in case any person or persons shall have been already appointed under now existing law to make a general reassessment of real estate in such county in the year 1942 their terms shall expire on the taking of action under this act by the board of supervisors or other governing body of such county, and for services already performed such board of supervisors or other governing body shall compensate such person or persons by providing for the payment to them of such sum as it may deem right.