                                 CODE OF VIRGINIA

CLASSIFICATION OF IMPROVEMENTS TO REAL PROPERTY DESIGNED AND USED PRIMARILY FOR
THE MANUFACTURE OF A RENEWABLE ENERGY PRODUCT FOR TAX PURPOSES (§ 58.1-3221.4)

Improvements to real property designed and used primarily for the purpose of
manufacturing a product from renewable energy, as defined in § 56-576, are
hereby declared to be a separate class of property and shall constitute a
classification for local taxation separate from other classifications of real
property. The governing body of any county, city, or town may, by ordinance,
levy a tax on the value of such improvements at a different rate from that of
tax levied on other real property. The rate of tax imposed by any county, city,
or town on such improvements shall not exceed that applicable to the general
class of real property.

HISTORY: 2010, cc. 264, 849.