2006 Code of Virginia § 58.1-3216 - Deferral programs; taxes to be lien on property

58.1-3216. Deferral programs; taxes to be lien on property.

In the event of a deferral of real estate taxes granted by ordinance, theaccumulated amount of taxes deferred shall be paid to the county, city ortown concerned by the vendor upon the sale of the dwelling, or from theestate of the decedent within one year after the death of the last ownerthereof who qualifies for tax deferral by the provisions of this section andby the county, city or town ordinance. Such deferred real estate taxes shallbe paid without penalty, except that any ordinance establishing a combinedprogram of exemptions and deferrals, or deferrals only, may provide forinterest not to exceed eight percent per annum on any amount so deferred, andsuch taxes and interest, if applicable, shall constitute a lien upon the saidreal estate as if it had been assessed without regard to the deferralpermitted by this article. Any such lien shall, to the extent that it exceedsin the aggregate ten percent of the price for which such real estate may besold, be inferior to all other liens of record.

(Code 1950, 58-760.1; 1971, Ex. Sess., c. 169; 1972, cc. 315, 616; 1973, c.496; 1974, c. 427; 1976, c. 543; 1977, cc. 48, 453, 456; 1978, cc. 774, 776,777, 780, 788, 790; 1979, cc. 543, 544, 545, 563; 1980, cc. 656, 666, 673;1981, c. 434; 1982, cc. 123, 457; 1984, cc. 267, 675.)