Chap. 150.—An ACT to amend section 297 of the Tax Code of Virginia relat-
ing to the collection of city or town taxes or levies on property in install-
ments. [S B 236]

Approved March 11, 1936

1. Be it enacted by the General Assembly of Virginia, That section
two hundred ninety-seven of the Tax Code of Virginia be amended
and re-enacted so as to read as follows:

Section 297. Councils of Cities and Towns May Provide, by Ordi-
nance, for the Collection of City or Town Taxes or Levies on Property
in Installments.—The council of any city or town in this State may
provide, by ordinance now in force or hereafter adopted, for the col-
lection of city or town taxes or levies on property in installments
at such times and with such penalties for non-payment in time as may
be fixed by ordinance.

Provided, however that the assessment by the State Corporation
Commission 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, pursuant to this sec-
tion, until the regular annual assessment of such properties by said
commission for the current year is completed as otherwise provided
by law; and, upon the payment of the final installment of such taxes
to any city or town by any such public service corporation, the total
of such taxes for the current year shall be adjusted between such
city or town and any public service corporation affected on the basis
of the assessment by said commission for the current year; provided
further, that the State Corporation Commission may, upon the applica-
tion of any such public service corporation or any such city or town,
filed with said commission 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 said properties within the preceding year; such in-
creases, decreases and changes to be subject to adjustment by the
commission until the regular annual assessment of the properties of
said corporations is completed by said commission.