{"data":{"id":"us-va/va.-code-58.1-3202","jurisdiction":"us-va","citation":"Va. Code § 58.1-3202","heading":"Taxation of certain multi-unit real estate","body":"Beginning with assessments effective on January 1, 1984, the fair market value of multi-unit real estate leased primarily to residential tenants shall be determined without regard to its potential for conversion to condominium or cooperative ownership. A sale of apartment property shall not be presumed to be for such conversion unless overt action which is a prerequisite to conversion by the buyer has been taken within three months from the recordation of the deed.Code 1950, § 58-760; 1982, c. 619; 1983, cc. 556, 570; 1984, c. 675.","path":["Title 58.1. TAXATION","Subtitle III. LOCAL TAXES","Chapter 32. REAL PROPERTY TAX","Article 1. TAXABLE REAL ESTATE"],"source_url":"https://law.lis.virginia.gov/vacode/58.1-3202/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:17:44Z","sha256":"4dd90c11f311785c4c88ab1a9965951ce486e1f6bdaff07dd763658846e7b751","source_id":"us-va","stale":true,"prev":"us-va/va.-code-58.1-3201","next":"us-va/va.-code-58.1-3203"},"notice":"GroundRules: Original legal text. Not legal advice."}