Chap. 281.—An ACT to amend and re-enact Section 265 of the Tax Code of Virginia,

as heretofore amended, relating to assessment of land divided among joint
owners. [S B 302]

Approved March 27, 1940

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

Section 265. When a tract or lot becomes the property of different
owners in several parcels, the value at which the whole had been
assessed shall be divided by the commissioner among the several
parcels, having regard to the value of each parcel compared with that
of the whole tract or lot, and the tax upon the whole shall be appor-
tioned accordingly among the owners of the different parcels. If any
person interested shall be dissatisfied with such apportionment he
may apply to the commissioner to make a reassessment, and the com-
missioner shall make the same according to the best of his skill and
judgment; provided, however, that when any such tract or lot of
land is located in a town, or within one mile of the corporate limits
thereof, the commissioner shall assess the same at its fair market
value as of the first day of January of the year next succeeding the
year in which said tract or lot of land becomes the property of different
owners. ,

The Commonwealth’s attorney of the county, or the town attorney
of the town, or any tax paper, aggrieved by any such re-assessment,
may apply for a correction of the same within the time and the manner
prescribed by section four hundred and fourteen of the Tax Code of
Virginia.