Chap. 688.—An ACT to provide for the taxation of ground rents.
Approved April 2, 1902.

1. Be it enacted by the general assembly of Virginia, That all ground
rents and rent charges shall be listed and assessed for the purpose of taxa-
tion in like manner as lands and lots according to the enactments and
provisions of chapter twenty-third of the Code, and the amendments
thereto, providing for the assessment of lands and lots and their reassess-
ment, and all other provisions and enactments relating thereto.

The value of such ground rent or other like charge shall be estimated
und charged at a sum equal to a principal sum, the interest of which, at
‘he legal rate of interest (six per centum), will produce a sum equal to
such annual rent or charge, and if payable in any other thing except
noney, the value of the rent or charge to be ascertained by the assessor ;
ind if the name of the person entitled to receive such rent or charge
‘annot be ascertained by the assessor, it shall be assessed against the
enant in possession of the real estate upon which it is charged.

2. This act shall be in force from its passage.