§ 58.1-2606. Local taxation of real and tangible personal property of public service corporations; other person...
A. Notwithstanding the provisions of this section and §§ 58.1-2607 and 58.1-2690, all local taxes on the real estate and tangible personal property of public service corporations referred to in such sections and other persons with property assessed pursuant to this chapter shall be at the real estate rate applicable in the respective locality.
B. Notwithstanding any of the foregoing provisions, all aircraft, automobiles and trucks of such corporations and other persons shall be taxed at the same rate or rates applicable to other aircraft, automobiles and trucks in the respective locality.
C. Notwithstanding any of the foregoing provisions, generating equipment that is reported to the Commission by electric suppliers shall be taxed at a rate determined by the locality but shall not exceed the real estate rate applicable in the respective localities. However, generating equipment that is reported to the Commission by electric suppliers utilizing wind turbines may be taxed by the locality at a rate that exceeds the real estate rate, but that does not exceed the general class of personal property tax rate applicable in the respective localities.
D. Notwithstanding the provisions of any of the foregoing provisions, no additional tax otherwise authorized under § 58.1-3221.3 shall be imposed by the counties of Isle of Wight, James City, and York and the cities of Chesapeake, Hampton, Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Virginia Beach, and Williamsburg upon any real or tangible personal property of a public service corporation or electric supplier unless a final certificate of occupancy for a commercial or industrial use has been issued and remains in effect.
(Code 1950, §§ 58-514.2, 58-605; 1966, c. 539; 1972, c. 813; 1975, c. 620; 1976, c. 687; 1984, c. 675; 1999, cc. 866, 971; 2004, c. 504; 2006, c. 517; 2008, c. 642.)
Sections: Previous 58.1-2600 58.1-2601 58.1-2602 58.1-2603 58.1-2604 58.1-2605 58.1-2606 58.1-2607 58.1-2608 58.1-2609 58.1-2610 58.1-2611 58.1-2612 58.1-2620 58.1-2621 NextLast modified: April 16, 2009