22.1-102 - Special tax for capital expenditures or payment of indebtedness or rent. - Virginia Statutes

§ 22.1-102. Special tax for capital expenditures or payment of indebtednessor rent.

For capital expenditures and for the payment of indebtedness or rent, agoverning body may, in addition to the levy and appropriation required underthe provisions of §§ 22.1-94 and 22.1-95, levy a special county tax, aspecial district tax, a special city tax or a special town tax, as the casemay be, on all property subject to local taxation. Such levy or levies shallbe at such rate or rates as the governing body levying the tax may deemnecessary for the purpose or purposes for which levied, except that where thetax is for raising funds for capital expenditures the rate shall not be morethan $2.50 on each $100 of the assessed value of such property in any oneyear.

(Code 1950, § 22-128; 1959, Ex. Sess., c. 79, § 1; 1971, Ex. Sess., c. 162;1980, c. 559.)