                                 CODE OF VIRGINIA

SEPARATE CLASSIFICATION OF MACHINERY AND TOOLS USED DIRECTLY IN PRECISION
INVESTMENT CASTINGS (§ 58.1-3508.3)

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 § 58.1-3507. The
governing body of any county, city, or town may levy 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.

HISTORY: 2009, c. 528.