58.1-3509 - Merchants' capital subject to local taxation; rate limit. - Virginia Statutes

§ 58.1-3509. Merchants' capital subject to local taxation; rate limit.

The capital of merchants is segregated for local taxation only; however, nocounty, city or town shall be required to impose a tax on such capital.However, no rate or assessment ratio in any county, city or town formerchants' capital shall be greater than such rate and ratio as was in effectin such county, city or town on January 1, 1978.

(Code 1950, §§ 58-266.1, 58-832; 1950, p. 155; 1956, c. 242; 1964, c. 424;1968, c. 619; 1970, cc. 231, 547; 1974, cc. 196, 438; 1975, cc. 23, 621;1976, cc. 521, 719; 1977, c. 320; 1978, cc. 772, 799, 817; 1979, cc. 565,568, 570; 1980, cc. 318, 736; 1981, cc. 419, 636; 1982, cc. 348, 548, 552,554, 558, 633; 1983, c. 554; 1984, cc. 247, 675, 695; 1999, c. 200.)