CHAPTER 296

An Act to amend and reenact § 58-774.2 of the Code of Virginia, relating
to the assessment of mineral lands and minerals. 8 178
[S 178]

Approved March 31, 1964

Be it enacted by the General Assembly of Virginia:

1. That § 58-774.2 of the Code of Virginia be amended and reenacted
as follows:

§ 58-774.2. * Mineral lands and minerals to be included in general
reassessment of real estate — * Notwithstanding § 58-774, whenever
there is a general reassessment of real estate in any county or city,
mineral lands and minerals shall be included in the general reassessment,
but shall be separately assessed from other real estate, and the court-
appointed assessor or assessors shall be governed by the provisions of
§ 58-774 in making the assessment. Taxes for each year on the mineral
lands and minerals assessed under this section shall be extended by the
commissioner of the revenue on the basis of the last general reassess-
ment made prior to such year, subject to such changes as may be made
by him in performing his annual duties under § 58-774; and in perform-
ing such annual duties he shall adjust the assessed values in such manner
as to reflect such changes as may have occurred during the preceding
year, especially such changes as may have operated to increase or de-
crease (1) the area and the value of such portion of each tract as 18
improved and under development, (2) the value of the wmprovements
upon each tract, and (3) the area and value of such portion of each tract
as shall not be under development.

Every county in which there are mineral lands shall have a general
reassessment of real estate in the year prescribed by law, even though
the greater part of the area of the county consists of mineral lands.

The Department of Taxation shall render advisory aid and assistance
of a technical nature to the court-appointed assessor or assessors, in mak-
ing a general reassessment of mineral lands and minerals, upon request
of the governing body of the county or city, or to the commissioner of
the revenue, upon his request, provided moneys are available to the De-
partment to defray the cost thereof.