                                 CODE OF VIRGINIA

SEPARATE CLASSIFICATION OF MACHINERY AND TOOLS USED IN MANUFACTURING OR
PROCESSING MATERIALS, COMPONENTS, OR EQUIPMENT FOR NATIONAL DEFENSE (§
58.1-3508.4)

Machinery and tools, including repair and replacement parts, designed and used
directly in manufacturing or processing materials, components, or equipment for
national defense are hereby declared to be a separate class of property and
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 machinery and tools at
a different rate from that levied on other machinery and tools. The rate of tax
imposed by the county, city, or town on such machinery and tools shall not
exceed that applicable to the general class of machinery and tools.

HISTORY: 2011, cc. 875, 877.