A. Machinery or tools and repair parts therefor or replacements thereof, used directly in the harvesting of forest products for sale or for use as a component part of a product to be sold, shall constitute a classification for local taxation separate from other such classifications of real or personal property or machinery and tools as defined in § 58.1-3507. The rate of assessment and the rate of tax shall not exceed that applicable generally to machinery and tools.
B. The provisions of this section shall be applicable only to taxpayers liable for payment of forest product taxes under Chapter 16 (§ 58.1-1600 et seq.) of this title.
Code 1950, § 58-838.21; 1972, c. 325; 1984, c. 675.
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