58.1-3284 - Assessment of standing timber trees owned by person who owns land surface; when owned separately. - Virginia Statutes

§ 58.1-3284. Assessment of standing timber trees owned by person who ownsland surface; when owned separately.

A. When the land surface and standing timber trees are owned by the sameperson, the value of the land, inclusive of the standing timber trees, shallbe ascertained and assessed at such ascertained value.

B. In any case when the surface of the land is owned by one person and thestanding timber trees thereon are owned by another, the relative value ofeach shall be determined and the owners shall be assessed with the value oftheir respective interests.

(Code 1950, § 58-804; 1958, c. 314; 1970, c. 440; 1971, Ex. Sess., cc. 3,172; 1975, c. 547; 1980, c. 360; 1984, c. 675.)