Notwithstanding the provisions of subdivisions 1, 2, and 3 of § 58.1-3506.2, the governing body of a county, city or town may by ordinance specify lower income and financial worth figures. The governing body also may prescribe by ordinance for a maximum amount of tax relief hereunder based on the assessed value of the motor vehicle or a formula which takes into account the income and financial worth levels of the individual seeking the benefit of the preferential tax rate. The Department of Taxation shall develop a model ordinance to assist local governments with the implementation and enforcement of this article.
1991, c. 646.
Structure Code of Virginia
Chapter 35 - Tangible Personal Property, Machinery and Tools and Merchants' Capital
§ 58.1-3500. Defined and segregated for local taxation
§ 58.1-3501. Tangible personal property leased to agency of federal, state or local government
§ 58.1-3503. General classification of tangible personal property
§ 58.1-3506. Other classifications of tangible personal property for taxation
§ 58.1-3506.2. Restrictions and conditions
§ 58.1-3506.3. Permanently and totally disabled defined
§ 58.1-3506.4. Local restrictions and conditions; model ordinance
§ 58.1-3506.7. Effective date; change in circumstances
§ 58.1-3508.1. Separate classification of machinery and tools used in semiconductor manufacturing
§ 58.1-3508.2. Separate classification of machinery and tools used in other businesses
§ 58.1-3509. Merchants' capital subject to local taxation; rate limit
§ 58.1-3510. Definition of merchants' capital
§ 58.1-3510.01. Separate classification of merchants' capital of pharmaceutical wholesalers
§ 58.1-3510.02. Separate classification of certain merchants' capital of wholesalers and retailers
§ 58.1-3510.4. Short-term rental property; short-term rental businesses
§ 58.1-3510.5. Renter's certificate of registration
§ 58.1-3510.6. Short-term rental property tax
§ 58.1-3510.7. Exemptions; penalties
§ 58.1-3513. When imports deemed to acquire situs
§ 58.1-3514. When cargo in transit not deemed to have acquired a situs for taxation
§ 58.1-3515. Tax day January 1
§ 58.1-3516. Proration of personal property tax
§ 58.1-3516.1. Payment of taxes prorated under § 58.1-3516
§ 58.1-3516.2. Payment of taxes on leased property by lessee; information to be furnished by lessor
§ 58.1-3517. Department of Taxation to prescribe and furnish forms of returns; use of local forms
§ 58.1-3518. Taxpayers to file returns
§ 58.1-3518.1. Alternative method of filing returns for motor vehicles, trailers and boats
§ 58.1-3519. Commissioner to assess property if taxpayer fails to file return