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Home / Opinion Digests / Taxation – Real Estate – FMV – Condo Units (access required)

Taxation – Real Estate – FMV – Condo Units (access required)

The owner of a condominium project in Arlington County, with 21 “community benefit units” designated for low-income households, loses its request for correction of an erroneous tax assessment, the Supreme Court of Virginia says, because the owner failed to show the fair market value of each individual condominium unit. Under the Virginia Constitution, all assessments of ...

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