15.2-3219 - Reduced taxation on real estate in territory added to corporate limits. - Virginia Statutes

§ 15.2-3219. Reduced taxation on real estate in territory added to corporatelimits.

The council of any city or town to which territory has been added may, byordinance, allow a lower rate of taxation to be imposed for a period not toexceed ten years after the effective date of the annexation upon the realestate or any portion thus added to its corporate limits, than is imposed onsimilar property within its limits at the time such territory was added.

Such differences in the rate of taxation hereafter shall be establishedannually and shall bear a reasonable relationship to differences betweennonrevenue-producing governmental services giving land urban character whichare furnished in the area added as compared to other areas in the city ortown.

(1970, c. 37, § 15.1-1047.1; 1971, Ex. Sess., c. 36; 1985, c. 478; 1997, c.587.)