                                 CODE OF VIRGINIA

TAXATION OF LIFE TENANT&#8217;S INTEREST WHEN REMAINDER HELD BY UNITED STATES
(§ 58.1-3223)

The life tenant of any property, a remainder interest in which has been acquired
by the United States, shall receive a credit on his real estate tax each year
for any amount paid to the county, city or town in such years under § 3 of
Public Law 94-565 (31 U.S.C. § 1603) on behalf of such property. Such credit
shall not exceed the amount of tax on such property.

HISTORY: Code 1950, § 58-761.1; 1980, c. 290; 1984, c. 675.