                                 CODE OF VIRGINIA

TAXES AND ASSESSMENTS (§ 15.2-1104)

A municipal corporation may raise annually by taxes and assessments on property,
persons, and other subjects of taxation, which are not prohibited by law, such
sums of money as in the judgment of the municipal corporation are necessary to
pay the debts, defray the expenses, accomplish the purposes, and perform the
functions of the municipal corporation, in such manner as the municipal
corporation deems necessary or expedient. A municipal corporation may also
establish by ordinance a discount for the early payment of any such taxes or
assessments. For purposes of this section, &#8220;early payment&#8221; may
include payment of real property taxes in full on or before the due date of such
tax.

HISTORY: Code 1950, § 15-77.5; 1958, c. 328; 1962, c. 623, § 15.1-841; 1997,
c. 587; 2003, c. 216; 2012, c. 585.