Virginia Code 58.1-3000: Real estate, mineral lands, tangible personal property and merchants’ capital subject to local taxation only
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All taxable real estate, all taxable coal and other mineral lands, and all taxable tangible personal property and the tangible personal property of public service corporations, except rolling stock of corporations operating railroads, and also the capital of merchants are hereby segregated and made subject to local taxation only.
Terms Used In Virginia Code 58.1-3000
- Personal property: All property that is not real property.
- real estate: includes lands, tenements and hereditaments, and all rights and appurtenances thereto and interests therein, other than a chattel interest. See Virginia Code 1-219
Code 1950, § 58-9; 1971, Ex. Sess., c. 33; 1984, c. 675.