                                 CODE OF VIRGINIA

ASSESSMENT OF PUBLIC SERVICE CORPORATIONS IN SUCH CASES (§ 58.1-3917)

A. In any locality which requires payment of real estate taxes in installments,
the assessment by the State Corporation Commission or the Department of the
properties of public service corporations for the preceding year shall be taken
as the assessment of such properties for levying taxes and collecting
installments thereon, until the regular annual assessment of such properties by
the Commission or the Department for the current year is completed as otherwise
provided by law; and, upon the payment of the final installment of such taxes to
any county, city or town by any such public service corporation, the total of
such taxes for the current year shall be adjusted between such county, city or
town and such public service corporation on the basis of the assessment by the
Commission or the Department for the current year.

B. The State Corporation Commission or the Department may, upon the application
of any such public service corporation or any such city or town filed on or
before the fifteenth day of January in any year, amend its assessment for the
preceding year by increasing or decreasing the same, by reason of any
improvements or additions thereto, or proper deductions therefrom, or other
changes affecting the assessment of the properties of such corporation within
the preceding year, such increases, decreases and changes to be subject to
adjustment by the Commission or the Department until the regular annual
assessment of the properties of the corporation is completed by the Commission
or the Department.

HISTORY: Code 1950, §§ 58-848, 58-849; 1974, c. 293; 1983, c. 570; 1984, c.
675.