It will be 2014 before citizens can get a break on taxes.
By Christopher Brooke, Reporter
Monday, November 5, 2012 at 7:00 am (Updated: November 5, 9:46 am)
HILLSVILLE — Land-use assessment will go into effect, Hillsville Town Council members assured citizens Oct. 22 — just not as soon as everybody wanted.
Localities in Virginia are allowed to assess real estate based on the "use value" instead of fair market value. Use value is the productive potential of the land, according to the state’s definition. For example, a field that grows $200 worth of corn has a "use value" of $200.
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