2006 Code of Virginia § 58.1-3294 - Reports of income data by owners of income-producing realty; certification; confidentialit...

58.1-3294. Reports of income data by owners of income-producing realty;certification; confidentiality.

Any duly authorized real estate assessor, board of assessors, or departmentof real estate assessments may require that the owners of income-producingreal estate in the county or city subject to local taxation, except propertyproducing income solely from the rental of no more than four dwelling units,and except property being used exclusively as an owner-occupied property, notas a hotel, motel, or office building over 12,000 square feet, and notengaged in a retail or wholesale business where merchandise for sale isdisplayed, furnish to such assessor, board or department on or before a timespecified, which time may be extended for not less than ninety days, uponapplication of the owner of such property statements of the income andexpenses attributable over a specified period of time to each such parcel ofreal estate. Each such statement shall be certified as to its accuracy by anowner of the real estate for which the statement is furnished, or a dulyauthorized agent thereof. Any statement required by this section shall bekept confidential in accordance with the provisions of 58.1-3. The failureof the owner of income-producing property, except property producing incomesolely from the rental of no more than four dwelling units, and exceptproperty being used exclusively as an owner-occupied property, not as ahotel, motel, or office building over 12,000 square feet, and not engaged ina retail or wholesale business where merchandise for sale is displayed, tofurnish a statement of income and expenses as required by this section shallbar such owner or his representative from introducing into evidence, or usingin any other manner, any of the required but not furnished income and expenseinformation in any judicial action brought under 58.1-3984.

(Code 1950, 58-769.3:2; 1982, c. 619; 1984, c. 675; 1990, c. 671; 2000, c.515.)