Chap. 295.—An ACT to amend and re-enact section 435 of the Tax Code of

Virginia, as heretofore amended, relating to property exempt from Pan

Approved March 29, 1934

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

Section 435. What property, real and personal, exempt from tax-
ation, State and local—The following property shall be exempt from
taxation, State and local, including inheritance taxes.

(a) Property owned directly or indirectly by the United States,
the Commonwealth, or any political subdivision thereof, and obligations
of the Commonwealth issued since February fourteenth, eighteen hun-
dred and eighty-two, or hereafter exempted by law.

(b) Buildings with land they actually occupy, and the furniture
and furnishings therein and endowment funds lawfully owned and held
by churches or religious bodies, and wholly and exclusively used for
religious worship, or for the residence of the minister of any church or
religious body, together with the additional adjacent land reasonably
necessary for the convenient use of any such building.

(c) Private or public burying grounds or cemeteries and endow-
ment funds, lawfully held, for their care, provided the same are not
operated for profit.

(d) Property owned by public libraries, incorporated colleges or
other incorporated institutions of learning, not conducted for profit, to-
gether with the endowment funds thereof not invested in real estate.
But this provision shall apply only to property primarily used for lit-
erary, scientific or educational purposes or purposes incidental thereto.
It shall not apply to industrial schools which sell their product to other
than their own employees or students.

(e) Real estate belonging to, actually and exclusively occupied and
used by, and personal property, including endowment funds, belonging
to Young Men’s Christian Associations, and other similar religious
associations, orphan or other asylums, reformatories, hospitals and
nunneries, conducted not for profit, but exclusively as charities, also
parks or playgrounds held by trustees for the perpetual use of the gen-
eral public.

(f) Buildings with the land they actually occupy, and the furniture
and furnishings therein, belonging to any benevolent or charitable as-
sociation and used exclusively for lodge purposes or meeting rooms by
such association, together with such additional adjacent land as may be
necessary for the convenient use of the buildings for such purposes; and

(g) Property of the Association for the Preservation of Virginia
Antiquities, the Confederate Memorial Literary Society, the Mount
Vernon Ladies’ Association of the Union, the Virginia Historical So-
ciety, the Thomas Jefferson Memorial Foundation, Incorporated, the
posts of the American Legion, posts of United Spanish War Veterans,
posts of Veterans of Foreign Wars, posts of the Disabled American
Veterans, and the Manassas Battlefield Confederate Park, Incorporated,
and the Robert E. Lee Memorial Foundation, Incorporated, and any
corporation organized to establish and maintain a museum or museums,
with or without a library or libraries, provided such corporation be not
operated for profit. On and after January first, nineteen hundred and
thirty-four the real estate and tangible personal property now owned
or which may be hereafter acquired by Colonial Williamsburg, Incor-
porated, and used for museum, historical, educational, municipal, ben-
evolent or charitable purposes, shall be exempt from all taxation, as long
as such corporation continues to be organized and operated not for
profit.

Nothing contained in this section shall be construed to exempt from
taxation the property of any person, firm, association, or corporation,
who shall, expressly or impliedly, directly or indirectly, contract or
promise to pay a sum of money or other benefit, on account of death,
sickness, or accident to any of its members or other person. Whenever
any building or land, or part thereof, mentioned in this section, and not
belonging to the State, shall be leased or shall otherwise be a source of
revenue or profit, all of such buildings and land shall be liable to taxa-
tion as other land and buildings in the same county, city or town, ex-
cept as is now or may hereafter be provided by law.

Nothing herein contained shall be construed as authorizing or requir-
ing any county, city, or town to tax for county, city, or town purposes,
in violation of the rights of the lessees thereof, existing under any law-
ful contract heretofore made, any real estate owned by such county,
city or town, as heretofore leased by it. :

In assessing any building and the land it occupies which may be
owned exclusively by a benevolent or charitable institution, or by a
church or religious body, but all of which is not used exclusively for
lodge purposes or meeting rooms, or for church or religious or charita-
ble purposes, the assessing officers shall only assess for taxation such
proportional part of the fair market value of the entire property as
would be the comparative fair market value of the part of such land
and building not used exclusively for lodge purposes or meeting rooms,
or for church or religious or charitable purposes.