{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-3245.6.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-3245.6.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-3245.6.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-3245.6.html"}],"law_id":65687,"edition_id":1,"section_id":65687,"structure_id":14125,"section_number":"58.1-3245.6","catch_line":"Definitions","history":"1997, c. 314; 2005, cc. 863, 884.","full_text":"As used in this article, unless the context clearly shows otherwise, the term or phrase:\n\t\t“Base assessed value” means the assessed value of real estate or machinery and tools within a local enterprise zone as shown upon the records of the local assessing officer on January 1 of the year preceding the effective date of the ordinance establishing the local enterprise zone development taxation.\n\t\t“Current assessed value” means the annual assessed value of real estate or machinery and tools in a local enterprise zone as shown upon the records of the local assessing officer.\n\t\t“Enterprise zone” means an area designated by the Governor as an enterprise zone pursuant to Chapter 49 (\u00a7 59.1-538 et seq.) of Title 59.1.\n\t\t“Local enterprise zone” means an enterprise zone designated as a local enterprise zone by an ordinance adopted pursuant to \u00a7 58.1-3245.8.\n\t\t“Tax increment” means all or a portion of the amount by which the current assessed value of real estate or machinery and tools, or both, in a local enterprise zone exceeds the base assessed value.","order_by":null,"text":{"0":{"id":238759,"text":"As used in this article, unless the context clearly shows otherwise, the term or phrase:\n\t\t“Base assessed value” means the assessed value of real estate or machinery and tools within a local enterprise zone as shown upon the records of the local assessing officer on January 1 of the year preceding the effective date of the ordinance establishing the local enterprise zone development taxation.\n\t\t“Current assessed value” means the annual assessed value of real estate or machinery and tools in a local enterprise zone as shown upon the records of the local assessing officer.\n\t\t“Enterprise zone” means an area designated by the Governor as an enterprise zone pursuant to Chapter 49 (\u00a7 59.1-538 et seq.) of Title 59.1.\n\t\t“Local enterprise zone” means an enterprise zone designated as a local enterprise zone by an ordinance adopted pursuant to \u00a7 58.1-3245.8.\n\t\t“Tax increment” means all or a portion of the amount by which the current assessed value of real estate or machinery and tools, or both, in a local enterprise zone exceeds the base assessed value.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14125,"edition_id":1,"name":"Local Enterprise Zone Development Taxation Program","identifier":"4.2","label":"article","depth":4,"order_by":1,"parent_id":12997,"metadata":{},"date_created":"2026-06-26 03:46:56","date_modified":"2026-06-26 03:46:56","permalink":{"id":257403,"object_type":"structure","relational_id":14125,"identifier":"4.2","token":"58.1\/III\/32\/4.2","url":"\/58.1\/III\/32\/4.2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12997,"edition_id":1,"name":"Real Property Tax","identifier":"32","label":"chapter","depth":3,"order_by":1,"parent_id":12704,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":256887,"object_type":"structure","relational_id":12997,"identifier":"32","token":"58.1\/III\/32","url":"\/58.1\/III\/32\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12704,"edition_id":1,"name":"Local Taxes","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12703,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":256459,"object_type":"structure","relational_id":12704,"identifier":"III","token":"58.1\/III","url":"\/58.1\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12703,"edition_id":1,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":251959,"object_type":"structure","relational_id":12703,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":85275,"structure_id":14125,"section_number":"58.1-3245.10","catch_line":"Use of funds deposited in the Local Enterprise Zone Development Fund","url":"\/58.1-3245.10\/","token":"58.1\/III\/32\/4.2\/58.1-3245.10","metadata":false},{"id":60653,"structure_id":14125,"section_number":"58.1-3245.11","catch_line":"Dissolving the Local Enterprise Zone Development Fund","url":"\/58.1-3245.11\/","token":"58.1\/III\/32\/4.2\/58.1-3245.11","metadata":false},{"id":82762,"structure_id":14125,"section_number":"58.1-3245.12","catch_line":"Local enterprise zone program for technology, defense, or green development zones","url":"\/58.1-3245.12\/","token":"58.1\/III\/32\/4.2\/58.1-3245.12","metadata":false},{"id":65687,"structure_id":14125,"section_number":"58.1-3245.6","catch_line":"Definitions","url":"\/58.1-3245.6\/","token":"58.1\/III\/32\/4.2\/58.1-3245.6","metadata":false},{"id":85056,"structure_id":14125,"section_number":"58.1-3245.7","catch_line":"Promotion of development of local enterprise zones","url":"\/58.1-3245.7\/","token":"58.1\/III\/32\/4.2\/58.1-3245.7","metadata":false},{"id":55261,"structure_id":14125,"section_number":"58.1-3245.8","catch_line":"Adoption of local enterprise zone development taxation program","url":"\/58.1-3245.8\/","token":"58.1\/III\/32\/4.2\/58.1-3245.8","metadata":false},{"id":86993,"structure_id":14125,"section_number":"58.1-3245.9","catch_line":"Copies of local enterprise zone development taxation ordinance to local assessing officer and treasurer or director of finance","url":"\/58.1-3245.9\/","token":"58.1\/III\/32\/4.2\/58.1-3245.9","metadata":false}],"previous_section":{"id":82762,"structure_id":14125,"section_number":"58.1-3245.12","catch_line":"Local enterprise zone program for technology, defense, or green development zones","url":"\/58.1-3245.12\/","token":"58.1\/III\/32\/4.2\/58.1-3245.12","metadata":false},"next_section":{"id":85056,"structure_id":14125,"section_number":"58.1-3245.7","catch_line":"Promotion of development of local enterprise zones","url":"\/58.1-3245.7\/","token":"58.1\/III\/32\/4.2\/58.1-3245.7","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-3245.6\/","history_text":"

This law was first created in 1997. The record of its establishment is cataloged in chapter 314<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2005, chapters 863<\/a> and 884<\/a>.<\/p>","references":[{"id":71306,"section_number":"59.1-543","catch_line":"Local incentives","order_by":null,"url":"\/59.1-543\/"}],"refers_to":[{"id":55261,"section_number":"58.1-3245.8","catch_line":"Adoption of local enterprise zone development taxation program","order_by":null,"url":"\/58.1-3245.8\/"},{"id":85120,"section_number":"59.1-538","catch_line":"Short title","order_by":null,"url":"\/59.1-538\/"}],"permalink":{"id":257417,"object_type":"law","relational_id":65687,"identifier":"58.1-3245.6","token":"58.1\/III\/32\/4.2\/58.1-3245.6","url":"\/58.1-3245.6\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-3245.6\/","token":"58.1\/III\/32\/4.2\/58.1-3245.6","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-3245.6","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this article, unless the context clearly shows otherwise, the term or phrase:\n\t\t“Base assessed value<\/span>” means the assessed value of real estate or machinery and tools within a local enterprise zone<\/span> as shown upon the records of the local assessing officer on January 1 of the year preceding the effective date of the ordinance<\/span> establishing the local enterprise zone<\/span> development taxation.\n\t\t“Current assessed value<\/span>” means the annual assessed value of real estate or machinery and tools in a local enterprise zone<\/span> as shown upon the records of the local assessing officer.\n\t\t“Enterprise zone” means an area designated by the Governor as an enterprise zone pursuant to Chapter 49 (\u00a7 59.1-538<\/a> et seq.) of Title 59.1.\n\t\t“Local enterprise zone<\/span>” means an enterprise zone designated as a local enterprise zone<\/span> by an ordinance<\/span> adopted pursuant to \u00a7 58.1-3245.8<\/a>.\n\t\t“Tax increment<\/span>” means all or a portion of the amount by which the current assessed value<\/span> of real estate or machinery and tools, or both, in a local enterprise zone<\/span> exceeds the base assessed value<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 58.1-3245.6)\n\nAs used in this article, unless the context clearly shows otherwise, the term or\nphrase:\n\t\t“Base assessed value” means the assessed value of real estate or\nmachinery and tools within a local enterprise zone as shown upon the records of\nthe local assessing officer on January 1 of the year preceding the effective\ndate of the ordinance establishing the local enterprise zone development\ntaxation.\n\t\t“Current assessed value” means the annual assessed value of real\nestate or machinery and tools in a local enterprise zone as shown upon the\nrecords of the local assessing officer.\n\t\t“Enterprise zone” means an area designated by the Governor as an\nenterprise zone pursuant to Chapter 49 (\u00a7 59.1-538 et seq.) of Title 59.1.\n\t\t“Local enterprise zone” means an enterprise zone designated as a\nlocal enterprise zone by an ordinance adopted pursuant to \u00a7 58.1-3245.8.\n\t\t“Tax increment” means all or a portion of the amount by which the\ncurrent assessed value of real estate or machinery and tools, or both, in a\nlocal enterprise zone exceeds the base assessed value.\n\nHISTORY: 1997, c. 314; 2005, cc. 863, 884.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}