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Code of Virginia (Title 58.1 — Taxation)

Va. Code § 58.1-3509

Merchants' capital subject to local taxation; rate limit

Official textlaw.lis.virginia.gov

The capital of merchants is segregated for local taxation only; however, no county, city or town shall be required to impose a tax on such capital. However, no rate or assessment ratio in any county, city or town for merchants' capital shall be greater than such rate and ratio as was in effect in such county, city or town on January 1, 1978.

Last amended: Code 1950, §§ 58-266.1, 58-832; 1950, p. 155; 1956, c. 242; 1964, c. 424; 1968, c. 619; 1970, cc. 231, 547; 1974, cc. 196, 438; 1975, cc. 23, 621; 1976, cc. 521, 719; 1977, c. 320; 1978, cc. 772, 799, 817; 1979, cc. 565, 568, 570; 1980, cc. 318, 736; 1981, cc. 419, 636; 1982, cc. 348, 548, 552, 554, 558, 633; 1983, c. 554; 1984, cc. 247, 675, 695; 1999, c. 200.

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Nearby sections (25 sections)
  1. 58.1-3506.5 · Application
  2. 58.1-3506.6 · Notice of local tangible personal property tax relief…
  3. 58.1-3506.7 · Effective date; change in circumstances
  4. 58.1-3506.8 · Repealed
  5. 58.1-3507 · Certain machinery and tools segregated for local taxation…
  6. 58.1-3508 · Separate classification and exemption from state taxation…
  7. 58.1-3508.1 · Separate classification of machinery and tools used in…
  8. 58.1-3508.2 · Separate classification of machinery and tools used in…
  9. 58.1-3508.3 · Separate classification of machinery and tools used…
  10. 58.1-3508.4 · Separate classification of machinery and tools used in…
  11. 58.1-3508.5 · Separate classification of machinery and tools used…
  12. 58.1-3508.6 · Separate classification of machinery and tools used…
  13. 58.1-3509 · Merchants' capital subject to local taxation; rate limit
  14. 58.1-3510 · Definition of merchants' capital
  15. 58.1-3510.01 · Separate classification of merchants' capital of…
  16. 58.1-3510.02 · Separate classification of certain merchants' capital of…
  17. 58.1-3510.4 · Short-term rental property; short-term rental businesses
  18. 58.1-3510.5 · Renter's certificate of registration
  19. 58.1-3510.6 · Short-term rental property tax
  20. 58.1-3510.7 · Exemptions; penalties
  21. 58.1-3511 · Situs for assessment; nonresident exception; refund of tax…
  22. 58.1-3512 · When vessels and containers used in interstate and foreign…
  23. 58.1-3513 · When imports deemed to acquire situs
  24. 58.1-3514 · When cargo in transit not deemed to have acquired a situs…
  25. 58.1-3515 · Tax day January 1
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