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

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

A. In the City of Fairfax and the City of Roanoke improvements to realproperty are declared to be a separate class of property and shall constitutea separate classification for local taxation of real property.

B. The governing body of the City of Fairfax and the City of Roanoke, aftergiving public notice and an opportunity for the public to be heard in themanner provided in § 58.1-3007, may levy a tax on the property enumerated insubsection A at a different rate than the tax imposed upon the land on whichit is located, provided that the rate of tax on the property described insubsection A shall not be zero and shall not exceed the rate of tax on theland on which it is located.

C. Nothing in this section shall be construed to permit the City of Fairfaxor the City of Roanoke to alter in any way its valuation of real propertycovered by this section.

(2002, c. 16; 2003, c. 164.)