§ 58.1-3200. Real estate subject to local taxation; taxable real estate defined; leaseholds
All taxable real estate, having been segregated for and made subject to local taxation only by Article X, Section 4 of the Constitution of Virginia, shall be assessed for local taxation in accordance with the provisions of this chapter and other provisions of law. For purposes of the assessment of real estate for taxation, the term "taxable real estate" shall include a leasehold interest in every case in which the land or improvements, or both, as the case may be, are exempt from assessment for taxation to the owner. The provisions of this chapter relating to the assessment of real estate shall not apply to property required by law to be assessed by the State Corporation Commission or the Department of Taxation.
(Code 1950, § 58-758; 1954, c. 317; 1984, c. 675; 1985, c. 221.)
Sections: 58.1-3200 58.1-3201 58.1-3202 58.1-3203 58.1-3204 58.1-3205 58.1-3210 58.1-3211 58.1-3211.1 58.1-3212 58.1-3213 58.1-3213.1 58.1-3214 58.1-3215 58.1-3216 NextLast modified: April 3, 2009