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2001 SESSION

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VIRGINIA ACTS OF ASSEMBLY -- CHAPTER An Act to amend the Code of Virginia by adding in Article 3 of Chapter 32 of Title 58.1 a section numbered 58.1-3221.1, relating to classification of real estate for tax rate purposes. [H 2663] Approved

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Article 3 of Chapter 32 of Title 58.1 a section numbered 58.1-3221.1 as follows:

Article 3. Other Exemptions, Credits, Partial Abatement, Apportionments, Classifications.

§ 58.1-3221.1. Classification of land and improvements for tax purposes.

A. Improvements to real property in any city having a population of no less than 19,500 and no greater than 21,500 as determined using the 1990 United States Census are declared to be a separate class of property and shall constitute a separate classification from the land on which they are located for local taxation of real property.

B. The governing body of any city having a population of no less than 19,500 and no greater than 21,500 as determined using the 1990 United States Census may levy a tax on the property enumerated in subsection A at a different rate than the tax imposed upon the land on which it is located, provided that the rate of tax on the property described in subsection A shall not be zero and shall not exceed the rate of tax on the land on which it is located.

C. Nothing in this section shall be construed to permit the commissioner of the revenue to alter in any way his valuation of real property covered by this section.

2. That the provisions of this act shall be effective on July 1, 2002, and shall expire on July 30, 2008.