<?xml version="1.0"?>
<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>79413</law_id><section_number>58.1-3508.3</section_number><catch_line>Separate classification of machinery and tools used directly in precision investment castings</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="58.1">Taxation</unit><unit label="subtitle" level="2" order_by="1" identifier="III">Local Taxes</unit><unit label="chapter" level="3" order_by="1" identifier="35">Tangible Personal Property, Machinery and Tools and Merchants' Capital</unit><unit label="article" level="4" order_by="1" identifier="2">Machinery and Tools Tax</unit></structure><text>
						<section><p>Machinery and tools used directly in the manufacture of precision investment castings shall constitute a classification for local taxation separate from other classifications of machinery and tools, as defined in &#xA7;&#xA0;<a class="law" title="Certain machinery and tools segregated for local taxation only; notice prior to change in valuation, hearing" href="/58.1-3507/">58.1-3507</a>. The governing body of any county, city, or town may <span class="dictionary">levy</span> a tax on such classification of property at a different rate from the tax levied on other machinery and tools. The rate of tax and the rate of assessment shall not exceed that applicable generally to machinery and tools.</p></section></text><history>2009, c. 528.</history><metadata></metadata></law>
