                                 CODE OF VIRGINIA

ENVIRONMENTAL RESTORATION SITES (§ 58.1-3664)

Environmental restoration sites, as defined herein, are hereby declared to be a
separate class of property and shall constitute a classification for local
taxation separate from other such classification of real property. The governing
body of any county, city or town may, by ordinance, exempt or partially exempt
such property from local taxation annually for a period not in excess of five
years.
		&#8220;Environmental restoration site&#8221; means real estate which contains
or did contain environmental contamination from the release of hazardous
substances, hazardous wastes, solid waste or petroleum, the restoration of which
would abate or prevent pollution to the atmosphere or waters of the Commonwealth
and which (i) is subject to voluntary remediation pursuant to § 10.1-1232 and
(ii) receives a certificate of continued eligibility from the Virginia Waste
Management Board during each year which it qualifies for the tax treatment
described in this section.

HISTORY: 1997, c. 849.