                                 CODE OF VIRGINIA

TOWN TAX (§ 58.1-1209)

Any incorporated town in this Commonwealth in which is located a bank may, by
ordinance, impose a tax not to exceed 80 percent of the state rate of taxation
for each $100 of the net capital of a bank located in such town. If such bank
also has offices that are located outside the corporate limits of such town, the
tax shall be apportioned as provided in § 58.1-1211.

HISTORY: Code 1950, § 58-485.010; 1980, c. 578; 1984, c. 675.