Board of Supervisors v. Leasco Realty, Inc.

This appeal stems from a proceeding filed under Code § 58-1145 to correct an alleged erroneous assessment of real estate. We review the trial court’s action in granting the taxpayer relief by reducing the assessed value of the subject property.

Article X, § 1, of the Constitution of Virginia provides that all taxes shall be uniform upon the’same class of subjects within the territorial limits of the authority levying the tax. Article X, § 2, of the Constitution requires all assessments of real estate to be at fair market value. Code § 58-1145 provides that a taxpayer applying to a circuit…