58.1-1209 - Town tax. - Virginia Statutes

§ 58.1-1209. Town tax.

Any incorporated town in this Commonwealth in which is located a bank may, byordinance, impose a tax not to exceed 80 percent of the state rate oftaxation for each $100 of the net capital of a bank located in such town. Ifsuch bank also has offices that are located outside the corporate limits ofsuch town, the tax shall be apportioned as provided in § 58.1-1211.

(Code 1950, § 58-485.010; 1980, c. 578; 1984, c. 675.)