Section 58.1-3509 - Merchants' capital subject to local taxation; rate limitThe capital of merchants is segregated for local taxation only; however, no county, 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 for merchants' capital shall be greater than such rate and ratio as was in effect in 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.Amended by Acts 1999, c. 200.Amended by Acts 1984, § cc. 247, 675, 695.Amended by Acts 1983, c. 554.Amended by Acts 1982, § cc. 348, 548, 552, 554, 558, 633.Amended by Acts 1981, § cc. 419, 636.Amended by Acts 1980, § cc. 318, 736.Amended by Acts 1979, § cc. 565, 568, 570.Amended by Acts 1978, § cc. 772, 799, 817.Amended by Acts 1977, c. 320.Amended by Acts 1976, § cc. 521, 719.Amended by Acts 1975, § cc. 23, 621.Amended by Acts 1974, § cc. 196, 438.Amended by Acts 1970, § cc. 231, 547.Amended by Acts 1968, c. 619.Amended by Acts 1964, c. 424.Amended by Acts 1956, c. 242.Amended by Acts 1950, § p. 155.