2004 UC Proceedings Abstract
Sustainable Development Legislation: Sacrificing Property Rights or Strengthening Property Values Track: State and Local Government Author(s): James Fox Real estate reassessment effective dates (i.e., which take up to eighteen months) may be influenced by environmental externalities. For example, the real estate value of a home assessed at $100,000 effective on January 1, 2001 on the tax records may have sold for $110,000 in December of 2000. Therefore, until the next reassessment, the gap becomes greater until the value of taxable real estate may only be 70 percent or less of the fair market value. Yet, in the 2003 re-assessment, enabling legislation regulating sustainable development has created a narrowing of assessed value and fair market value. This paper argues urban sprawl is controlled more by demand-driven economic policy legislation addressing sustainable development issues, and less by demand-driven economic policy addressing zoning, reassessment frequency, or increased assessment rates. This paper maps legislative outcomes from bisolid application, transportation relocation, and individual wastewater systems. James Fox Fluvanna County Board of Supervisors Planning and Community Development P.O. Box 540 Palmyra , VA 22963 US Phone: 434 591 1910 E-mail: jfoxx006@odu.edu |
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