{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-3286.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-3286.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-3286.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-3286.html"}],"law_id":56861,"edition_id":1,"section_id":56861,"structure_id":13051,"section_number":"58.1-3286","catch_line":"Mineral lands to be specially and separately assessed; severance tax","history":"Code 1950, \u00a7 58-774; 1972, c. 715; 1976, c. 53; 1984, c. 675; 2009, c. 770; 2014, cc. 48, 179.","full_text":"The several commissioners of the revenue shall, as soon as practicable after January 1 of each year, specially and separately assess at the fair market value all mineral lands and the improvements thereon and shall enter the same on the land books of their respective counties separately from other lands charged thereon.\n\t\tThe commissioner, in assessing mineral lands, shall set forth upon the land book:\n\n1\n\nThe area and the fair market value of such portion of each tract as is improved and under development;2\n\nThe fair market value of the improvements upon each tract; and3\n\nThe area and fair market value of such portion of each tract not under development.\n\t\t\tNotwithstanding any other provision of law and subject to the approval of the Board of Supervisors of Buchanan County, the commissioner of the revenue of the county may reassess gas wells and related improvements on an annual basis, provided that such gas wells and related improvements shall be reassessed in the general reassessment for the locality, as required by § 58.1-3287, and provided further a settlement agreement between the County and a taxpayer may provide a methodology for determining fair market value.\n\t\t\tIn the alternative to the procedure outlined in subdivision 1 above, any county or city may impose by ordinance a severance tax on all coal and gases extracted from the land lying within its jurisdiction. The rate of such tax shall not exceed one percent of the gross receipts from such coal or gases. Any such county or city may further require any producer of such coal or gases and any common carrier to maintain records showing the quantities of coal and gases which they have produced or transported, respectively.\n\t\t\tIf the surface of the land is held by one person, and the coal, iron and other minerals, mineral waters, gas or oil under the surface are held by another person, the estate therein of each and the relative fair market value of their respective interests shall be ascertained by the commissioner. If the surface of the land and the coal, iron and other minerals, mineral waters, gas or oil under the surface are owned by the same person, the commissioner shall ascertain the fair market value of the land, exclusive of the coal, iron, other minerals, mineral waters, gas or oils. He shall also ascertain the fair market value of the coal, iron, other minerals, mineral waters, gas, and oils and shall assess each at such ascertained values, stating separately in every case the value of the surface of the land and the value of the coal, iron, other minerals, mineral waters, gas and oils under the surface.\n\t\t\tThe commissioner of the revenue of any county or city is authorized to enter into agreements with taxpayers pertaining to the fair market value of the property taxed under this section. All such agreements entered into on or after January 1, 2013, but prior to July 1, 2014, between the commissioner of the revenue of any county or city and any taxpayer are deemed to be bona fide and are valid and enforceable.","order_by":null,"text":{"0":{"id":208274,"text":"The several commissioners of the revenue shall, as soon as practicable after January 1 of each year, specially and separately assess at the fair market value all mineral lands and the improvements thereon and shall enter the same on the land books of their respective counties separately from other lands charged thereon.\n\t\tThe commissioner, in assessing mineral lands, shall set forth upon the land book:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":208275,"text":"The area and the fair market value of such portion of each tract as is improved and under development;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":208276,"text":"The fair market value of the improvements upon each tract; and","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":208277,"text":"The area and fair market value of such portion of each tract not under development.\n\t\t\tNotwithstanding any other provision of law and subject to the approval of the Board of Supervisors of Buchanan County, the commissioner of the revenue of the county may reassess gas wells and related improvements on an annual basis, provided that such gas wells and related improvements shall be reassessed in the general reassessment for the locality, as required by § 58.1-3287, and provided further a settlement agreement between the County and a taxpayer may provide a methodology for determining fair market value.\n\t\t\tIn the alternative to the procedure outlined in subdivision 1 above, any county or city may impose by ordinance a severance tax on all coal and gases extracted from the land lying within its jurisdiction. The rate of such tax shall not exceed one percent of the gross receipts from such coal or gases. Any such county or city may further require any producer of such coal or gases and any common carrier to maintain records showing the quantities of coal and gases which they have produced or transported, respectively.\n\t\t\tIf the surface of the land is held by one person, and the coal, iron and other minerals, mineral waters, gas or oil under the surface are held by another person, the estate therein of each and the relative fair market value of their respective interests shall be ascertained by the commissioner. If the surface of the land and the coal, iron and other minerals, mineral waters, gas or oil under the surface are owned by the same person, the commissioner shall ascertain the fair market value of the land, exclusive of the coal, iron, other minerals, mineral waters, gas or oils. He shall also ascertain the fair market value of the coal, iron, other minerals, mineral waters, gas, and oils and shall assess each at such ascertained values, stating separately in every case the value of the surface of the land and the value of the coal, iron, other minerals, mineral waters, gas and oils under the surface.\n\t\t\tThe commissioner of the revenue of any county or city is authorized to enter into agreements with taxpayers pertaining to the fair market value of the property taxed under this section. All such agreements entered into on or after January 1, 2013, but prior to July 1, 2014, between the commissioner of the revenue of any county or city and any taxpayer are deemed to be bona fide and are valid and enforceable.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":13051,"edition_id":1,"name":"Reassessment\/Assessment (Valuation) Procedure and Practice","identifier":"7","label":"article","depth":4,"order_by":1,"parent_id":12997,"metadata":{},"date_created":"2026-06-26 03:44:11","date_modified":"2026-06-26 03:44:11","permalink":{"id":257529,"object_type":"structure","relational_id":13051,"identifier":"7","token":"58.1\/III\/32\/7","url":"\/58.1\/III\/32\/7\/","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":58961,"structure_id":13051,"section_number":"58.1-3280","catch_line":"Assessment of values","url":"\/58.1-3280\/","token":"58.1\/III\/32\/7\/58.1-3280","metadata":false},{"id":81867,"structure_id":13051,"section_number":"58.1-3281","catch_line":"When commissioner of the revenue to ascertain ownership of real estate; tax year","url":"\/58.1-3281\/","token":"58.1\/III\/32\/7\/58.1-3281","metadata":false},{"id":87328,"structure_id":13051,"section_number":"58.1-3282","catch_line":"When land and improvements owned separately; how assessed","url":"\/58.1-3282\/","token":"58.1\/III\/32\/7\/58.1-3282","metadata":false},{"id":76299,"structure_id":13051,"section_number":"58.1-3283","catch_line":"Assessment of airspace owned separately from subjacent land surface","url":"\/58.1-3283\/","token":"58.1\/III\/32\/7\/58.1-3283","metadata":false},{"id":87364,"structure_id":13051,"section_number":"58.1-3284","catch_line":"Assessment of standing timber trees owned by person who owns land surface; when owned separately","url":"\/58.1-3284\/","token":"58.1\/III\/32\/7\/58.1-3284","metadata":false},{"id":62439,"structure_id":13051,"section_number":"58.1-3284.1","catch_line":"Assessment of lots and open spaces in certain planned development subdivisions","url":"\/58.1-3284.1\/","token":"58.1\/III\/32\/7\/58.1-3284.1","metadata":false},{"id":86138,"structure_id":13051,"section_number":"58.1-3284.2","catch_line":"Reassessment of residential property containing defective drywall","url":"\/58.1-3284.2\/","token":"58.1\/III\/32\/7\/58.1-3284.2","metadata":false},{"id":70860,"structure_id":13051,"section_number":"58.1-3284.3","catch_line":"Wetlands to be specially and separately assessed","url":"\/58.1-3284.3\/","token":"58.1\/III\/32\/7\/58.1-3284.3","metadata":false},{"id":65894,"structure_id":13051,"section_number":"58.1-3285","catch_line":"Assessment and reassessment of lots when subdivided or rezoned","url":"\/58.1-3285\/","token":"58.1\/III\/32\/7\/58.1-3285","metadata":false},{"id":56861,"structure_id":13051,"section_number":"58.1-3286","catch_line":"Mineral lands to be specially and separately assessed; severance tax","url":"\/58.1-3286\/","token":"58.1\/III\/32\/7\/58.1-3286","metadata":false},{"id":55946,"structure_id":13051,"section_number":"58.1-3287","catch_line":"Mineral lands and minerals to be included in general reassessment of real estate","url":"\/58.1-3287\/","token":"58.1\/III\/32\/7\/58.1-3287","metadata":false},{"id":81904,"structure_id":13051,"section_number":"58.1-3288","catch_line":"Assessment in name of \"unknown owner.\"","url":"\/58.1-3288\/","token":"58.1\/III\/32\/7\/58.1-3288","metadata":false},{"id":85884,"structure_id":13051,"section_number":"58.1-3289","catch_line":"Reserved","url":"\/58.1-3289\/","token":"58.1\/III\/32\/7\/58.1-3289","metadata":false},{"id":63787,"structure_id":13051,"section_number":"58.1-3290","catch_line":"How land divided among several owners to be assessed","url":"\/58.1-3290\/","token":"58.1\/III\/32\/7\/58.1-3290","metadata":false},{"id":55418,"structure_id":13051,"section_number":"58.1-3291","catch_line":"Valuation of repairs, additions and new buildings","url":"\/58.1-3291\/","token":"58.1\/III\/32\/7\/58.1-3291","metadata":false},{"id":54109,"structure_id":13051,"section_number":"58.1-3292","catch_line":"Assessment of new buildings substantially completed, etc.; extension of time for paying assessment","url":"\/58.1-3292\/","token":"58.1\/III\/32\/7\/58.1-3292","metadata":false},{"id":80769,"structure_id":13051,"section_number":"58.1-3292.1","catch_line":"Assessment of new buildings substantially completed in a county operating under the urban county executive form of government, and in certain other cities and counties; extension of time for paying assessment","url":"\/58.1-3292.1\/","token":"58.1\/III\/32\/7\/58.1-3292.1","metadata":false},{"id":81177,"structure_id":13051,"section_number":"58.1-3293","catch_line":"Building, etc., when damaged or destroyed, value to be reduced","url":"\/58.1-3293\/","token":"58.1\/III\/32\/7\/58.1-3293","metadata":false},{"id":80388,"structure_id":13051,"section_number":"58.1-3294","catch_line":"Reports of income data by owners of income-producing realty; certification; confidentiality","url":"\/58.1-3294\/","token":"58.1\/III\/32\/7\/58.1-3294","metadata":false},{"id":72326,"structure_id":13051,"section_number":"58.1-3295","catch_line":"Assessment of real property; affordable rental housing","url":"\/58.1-3295\/","token":"58.1\/III\/32\/7\/58.1-3295","metadata":false},{"id":82588,"structure_id":13051,"section_number":"58.1-3295.1","catch_line":"Assessment of real property; residential rental apartments","url":"\/58.1-3295.1\/","token":"58.1\/III\/32\/7\/58.1-3295.1","metadata":false},{"id":60915,"structure_id":13051,"section_number":"58.1-3295.2","catch_line":"Assessment or exemption of certain real property conveyed or owned by a community land trust","url":"\/58.1-3295.2\/","token":"58.1\/III\/32\/7\/58.1-3295.2","metadata":false},{"id":63091,"structure_id":13051,"section_number":"58.1-3295.3","catch_line":"Assessment of real property; data centers","url":"\/58.1-3295.3\/","token":"58.1\/III\/32\/7\/58.1-3295.3","metadata":false}],"previous_section":{"id":65894,"structure_id":13051,"section_number":"58.1-3285","catch_line":"Assessment and reassessment of lots when subdivided or rezoned","url":"\/58.1-3285\/","token":"58.1\/III\/32\/7\/58.1-3285","metadata":false},"next_section":{"id":55946,"structure_id":13051,"section_number":"58.1-3287","catch_line":"Mineral lands and minerals to be included in general reassessment of real estate","url":"\/58.1-3287\/","token":"58.1\/III\/32\/7\/58.1-3287","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-3286\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 5 times. 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. Those modifications are as follows: in 1972, chapter 715; in 1976, chapter 53; in 1984, chapter 675; in 2009, chapter 770<\/a>; in 2014, chapters 48<\/a> and 179<\/a>.<\/p>","references":[{"id":55946,"section_number":"58.1-3287","catch_line":"Mineral lands and minerals to be included in general reassessment of real estate","order_by":null,"url":"\/58.1-3287\/"},{"id":70681,"section_number":"58.1-3712","catch_line":"Counties and cities authorized to levy severance tax on gases","order_by":null,"url":"\/58.1-3712\/"},{"id":76655,"section_number":"58.1-3741","catch_line":"Counties and cities authorized to levy severance license tax on the sale of coal","order_by":null,"url":"\/58.1-3741\/"}],"refers_to":[{"id":55946,"section_number":"58.1-3287","catch_line":"Mineral lands and minerals to be included in general reassessment of real estate","order_by":null,"url":"\/58.1-3287\/"}],"permalink":{"id":257567,"object_type":"law","relational_id":56861,"identifier":"58.1-3286","token":"58.1\/III\/32\/7\/58.1-3286","url":"\/58.1-3286\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-3286\/","token":"58.1\/III\/32\/7\/58.1-3286","dublin_core":{"Title":"Mineral lands to be specially and separately assessed; severance tax","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-3286","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The several commissioners of the revenue shall, as soon as practicable after January 1 of each year, specially and separately assess at the fair market value all mineral lands and the improvements thereon and shall enter the same on the land books of their respective counties separately from other lands charged thereon.\n\t\tThe commissioner, in assessing mineral lands, shall set forth upon the land book:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The area and the fair market value of such portion of each tract as is improved and under development; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The fair market value of the improvements upon each tract; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The area and fair market value of such portion of each tract not under development.\n\t\t\tNotwithstanding any other provision of law<\/span> and subject to the approval of the Board of Supervisors of Buchanan County, the commissioner of the revenue of the county may reassess gas wells and related improvements on an annual basis, provided that such gas wells and related improvements shall be reassessed in the general reassessment for the locality, as required by § 58.1-3287<\/a>, and provided further a settlement<\/span> agreement between the County and a taxpayer<\/span> may provide a methodology for determining fair market value.\n\t\t\tIn the alternative to the procedure outlined in subdivision 1 above, any county or city may impose by ordinance<\/span> a severance tax on all coal and gases extracted from the land lying within its jurisdiction<\/span>. The rate of such tax shall not exceed one percent of the gross receipts from such coal or gases. Any such county or city may further require any producer of such coal or gases and any common carrier to maintain records showing the quantities of coal and gases which they have produced or transported, respectively.\n\t\t\tIf the surface of the land is held by one person, and the coal, iron and other minerals, mineral waters, gas or oil under the surface are held by another person, the estate therein of each and the relative fair market value of their respective interests shall be ascertained by the commissioner. If the surface of the land and the coal, iron and other minerals, mineral waters, gas or oil under the surface are owned by the same person, the commissioner shall ascertain the fair market value of the land, exclusive of the coal, iron, other minerals, mineral waters, gas or oils. He shall also ascertain the fair market value of the coal, iron, other minerals, mineral waters, gas, and oils and shall assess each at such ascertained values, stating separately in every case the value of the surface of the land and the value of the coal, iron, other minerals, mineral waters, gas and oils under the surface.\n\t\t\tThe commissioner of the revenue of any county or city is authorized to enter into agreements with taxpayers<\/span> pertaining to the fair market value of the property taxed under this section. All such agreements entered into on or after January 1, 2013, but prior to July 1, 2014, between the commissioner of the revenue of any county or city and any taxpayer<\/span> are deemed to be bona fide and are valid and enforceable. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nMINERAL LANDS TO BE SPECIALLY AND SEPARATELY ASSESSED; SEVERANCE TAX (\u00a7\n58.1-3286)\n\nThe several commissioners of the revenue shall, as soon as practicable after\nJanuary 1 of each year, specially and separately assess at the fair market value\nall mineral lands and the improvements thereon and shall enter the same on the\nland books of their respective counties separately from other lands charged\nthereon.\n\t\tThe commissioner, in assessing mineral lands, shall set forth upon the land\nbook:\n\n1. The area and the fair market value of such portion of each tract as is\nimproved and under development;\n\n2. The fair market value of the improvements upon each tract; and\n\n3. The area and fair market value of such portion of each tract not under\ndevelopment.\n\t\t\tNotwithstanding any other provision of law and subject to the approval of the\nBoard of Supervisors of Buchanan County, the commissioner of the revenue of the\ncounty may reassess gas wells and related improvements on an annual basis,\nprovided that such gas wells and related improvements shall be reassessed in the\ngeneral reassessment for the locality, as required by § 58.1-3287, and\nprovided further a settlement agreement between the County and a taxpayer may\nprovide a methodology for determining fair market value.\n\t\t\tIn the alternative to the procedure outlined in subdivision 1 above, any\ncounty or city may impose by ordinance a severance tax on all coal and gases\nextracted from the land lying within its jurisdiction. The rate of such tax\nshall not exceed one percent of the gross receipts from such coal or gases. Any\nsuch county or city may further require any producer of such coal or gases and\nany common carrier to maintain records showing the quantities of coal and gases\nwhich they have produced or transported, respectively.\n\t\t\tIf the surface of the land is held by one person, and the coal, iron and\nother minerals, mineral waters, gas or oil under the surface are held by another\nperson, the estate therein of each and the relative fair market value of their\nrespective interests shall be ascertained by the commissioner. If the surface of\nthe land and the coal, iron and other minerals, mineral waters, gas or oil under\nthe surface are owned by the same person, the commissioner shall ascertain the\nfair market value of the land, exclusive of the coal, iron, other minerals,\nmineral waters, gas or oils. He shall also ascertain the fair market value of\nthe coal, iron, other minerals, mineral waters, gas, and oils and shall assess\neach at such ascertained values, stating separately in every case the value of\nthe surface of the land and the value of the coal, iron, other minerals, mineral\nwaters, gas and oils under the surface.\n\t\t\tThe commissioner of the revenue of any county or city is authorized to enter\ninto agreements with taxpayers pertaining to the fair market value of the\nproperty taxed under this section. All such agreements entered into on or after\nJanuary 1, 2013, but prior to July 1, 2014, between the commissioner of the\nrevenue of any county or city and any taxpayer are deemed to be bona fide and\nare valid and enforceable.\n\nHISTORY: Code 1950, \u00a7 58-774; 1972, c. 715; 1976, c. 53; 1984, c. 675; 2009, c.\n770; 2014, cc. 48, 179.","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}}