Code of Virginia - Title 33.1 Highways, Bridges And Ferries - Section 33.1-307 Exemption from taxation

§ 33.1-307. Exemption from taxation

The exercise of the powers granted by this article will be in all respects for the benefit of the people of the Commonwealth, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of turnpike projects by the Board will constitute the performance of essential government functions, the Board shall not be required to pay any taxes or assessments upon any turnpike project or any property acquired or used by the Board under the provisions of this article or upon the income therefrom, and the bonds issued under the provisions of this article, their transfer and the income therefrom (including any profit made on the sale thereof) shall at all times be free from taxation within the Commonwealth.

(Code 1950, § 33-255.12; 1952, c. 223; 1970, c. 322.)

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Last modified: April 3, 2009