Code of Virginia (Title 58.1 — Taxation)
Va. Code § 58.1-3601
Property becomes taxable immediately upon sale by tax-exempt owner
Official textlaw.lis.virginia.gov
Any property exempt from taxation pursuant to this chapter which is subsequently sold to a person not having tax-exempt status shall immediately become subject to taxation and be assessed therefor. The tax levied for the current year shall be prorated for the remainder of the tax year.
Source: view the official text
Nearby sections (25 sections)
- 58.1-3518 · Taxpayers to file returns
- 58.1-3518.1 · Alternative method of filing returns for motor vehicles,…
- 58.1-3519 · Commissioner to assess property if taxpayer fails to file…
- 58.1-3520 · Local permits required before moving a manufactured home to…
- 58.1-3521 · Manufactured homes; proration of tax
- 58.1-3522 · Assessment method for manufactured homes
- 58.1-3523 · Definitions
- 58.1-3524 · Tangible personal property tax relief; local tax rates on…
- 58.1-3534 · Department to furnish information to commissioners of…
- 58.1-3535 · Commissioner of the revenue to furnish information to the…
- 58.1-3536 · Repealed
- 58.1-3600 · Definitions
- 58.1-3601 · Property becomes taxable immediately upon sale by…
- 58.1-3602 · Exemptions not applicable to associations, etc., paying…
- 58.1-3603 · Exemptions not applicable when building is source of revenue
- 58.1-3604 · Tax exemption information
- 58.1-3605 · Triennial application for exemption; removal by local…
- 58.1-3605.1 · Repealed
- 58.1-3606 · Property exempt from taxation by classification
- 58.1-3606.1 · Property indirectly owned by government
- 58.1-3606.2 · Property exempt from taxation; nonprofit institutions of…
- 58.1-3607 · Property exempt from taxation by designation
- 58.1-3608 · Exempt organization's use of property owned by another
- 58.1-3609 · Post-1971 property exempt from taxation by classification
- 58.1-3610 · Volunteer fire departments and volunteer emergency medical…