CHAPTER 136

An Act to amend and reenact § 58-412 of the Code of Virginia, relating
to what not included as capital for State property taxation.
[S 198]

Approved February 27, 1952

Be it enacted by the General Assembly of Virginia:
. That § 58-412 of the Code of Virginia be amended and reenacted as
ollows:

§ 58-412. What not included as capital—Real estate.——Real estate
shall not be held to be capital under the preceding section, but shall be
listed and taxed as other real estate.
Machinery and tools.—Machinery and tools used in a manufacturing
or mining business taxable on capital under § 58-418 shall not be held to be
capital under the preceding section, nor shall such machinery and tools be
hereafter assessed as real estate. All such machinery and tools used in
a manufacturing or mining business taxable on capital under § 58-418
shall be listed for local taxation exclusively and each city, town and county
may make a separate classification for all such machinery and tools and
fix the rate of levy thereon, but such rate shall not be higher than the rate
imposed upon tangible personal property in such city, town, county or

istrict.

Stocks and bonds.—The shares of stock mentioned in § 58-409 and
bonds of the political subdivisions of this State mentioned in § 58-407
shall not be held to be capital under the preceding section.

Tangible property of certain businesses.—Personal property, tangible
in fact, used or employed in the trades and businesses hereinafter specific-
ally mentioned in this section shall not be held to be capital under the
preceding section, but shall be listed for local taxation exclusively and
taxed as tangible personal property, that is to say:

Amusement business, including theatres of every kind and class;
auctioneers; barbers, including beauty shops; bowling, billiard and pool
rooms; collection agencies, commission merchants, contractors, plumbers
and steamfitters; educational institutions whose property is taxable under
the Constitution and laws of this State; garage business; hospitals; hotels;
insurance agents; laundries, including cleaning, pressing and dyeing estab-
lishments; lodging and boarding houses; motor vehicle carriers; peddlers;
photographers; * real estate agents and brokers; rental of business
machines, equipment, and office appliances; slot machine operators;
storage and impounding; shoeshining business; taxicab business, includ-
ing the business of motor vehicle hiring; transfer business; and under-
takers and funeral directors.

This section, as hereby amended, shall be in force for the tax year
nineteen hundred and fifty-three and for every tax year thereafter.