Chap. 466.—An ACT to amend and reenact Sections 216, 216-b, 219, 222, 224,
227, and 229 of the Tax Code of Virginia, as heretofore amended, in relation
to the taxation of railway and canal corporations; motor bus transportation
companies in cities and towns; express companies; corporations operating
steamships, steamboats or other floating property for the transportation of
passengers or freight; sleeping car, parlor car, and dining car companies;
telegraph and telephone companies, and any firm or person operating the
apparatus necessary to communicate by telegraph or telephone; and water
or heat, light and power companies; which are in Chapter 16 of the Tax
Code of Virginia, entitled “Public Service Corporations”.

Approved April 2, 1948

Be it enacted by the General Assembly of Virginia:

1. That sections two hundred and sixteen, two hundred and sixteen-
b, two hundred and nineteen, two hundred and twenty-two, two hundred
and twenty-four, two hundred and twenty-seven, and two hundred
and twenty-nine of the Tax Code of Virginia, as heretofore amended,
be amended and reenacted so as to read as follows:

Section 216. Taxes on railway and canal corporations.—The State
tax on the rolling stock of all corporations operating railroads by steam
doing business in this State, so far as the same is taxable in this State,
shall be at the rate of two dollars and fifty cents on each one hundred
dollars of the assessed value thereof, and there shall be no local levies
assessed on such rolling stock. The rolling stock of all corporations which
now operate or which have heretofore operated railroads by steam
shall be taxed as if they have continued to operate railroads by steam,
notwithstanding the fact that they have changed or may change the
motive power by which such railroads are operated.

The State tax on the intangible personal property as assessed in
the section next preceding (other than shares of stock, and bonds issued
by counties, cities and towns or other political subdivisions of this State)
owned by every railway and canal corporation, shall be at the rate of
fifty cents on every hundred dollars of the assessed value thereof.

The State tax on the money of every railway and canal corporation
shall be twenty cents on every one hundred dollars assessed value thereof.

There shall be no local levies assessed on such intangible personal
property or money.

On real estate, rolling stock (other than the rolling stock of cor-
porations operating railroads by steam), and tangible personal property
of every railway and canal corporation, there shall be local levies at the
same rate or rates as are assessed upon other real estate and tangible
personal property, located in such localities, the proceeds of which local
levies shall be applied as is provided by law.

Every such railway or canal corporation shall pay to the State an
annual State franchise tax for each calendar year equal to two per
centum upon the gross transportation receipts, hereinafter specified,
for the privilege of exercising its franchise in this State, except that
every such railway corporation operating an electric railway or rail-
ways shall pay to the State an annual State franchise tax equal to two
and one-tenth per centum upon the gross transportation receipts, here-
inafter specified, for the privilege of exercising its franchise in this
State; which, with the taxes hereinbefore provided for, shall be in lieu
of all taxes or license charges whatsoever, upon the franchises of such
corporations and the shares of stock issued by them, and upon all their
property, as hereinbefore provided; provided, that nothing herein con-
tained shall exempt such corporations from the annual fee required
by section one hundred and fifty-seven of the Constitution or from
assessment for street and other local improvements, which shall be auth-
orized by law, or from the county, city, town, district, or road levies
hereinafter provided for other than a franchise tax; and, provided,
further, that nothing herein contained shall annul or interfere with, or
prevent any contract or agreement by ordinance between street railway
corporations and municipalities as to compensation for the use of the
streets or alleys of such municipalities by such railway corporation ; and,
provided, further, that in case of any railway or canal corporation operat-
ed wholly within this State whose actual operating expenses exceed its
gross transportation receipts, the annual State franchise tax shall be equal
to one and three-sixteenths per centum upon the gross transportation

receipts.

he amount of such franchise tax shall be equal to two per centum
of the gross transportation receipts of such corporation for the year
ending December thirty-first preceding, except that the amount of such
franchise tax on every railroad corporation operating an electric railway
or railways shall be equal to two and one-tenth per centum of the gross
transportation receipts of such corporation for the year ending December
thirty-first preceding, to be ascertained by the State Corporation Commis-
sion in the following manner :

(a) When the road or canal of the corporation lies wholly within
this State, the tax shall be equal to two per centum of the entire gross
transportation receipts of such corporation, except that the amount of
such franchise tax on every railway corporation operating an electric
railway or railways shall be equal to two and one-tenth per centum of the
entire gross transportation receipts of such corporation.

(b) When the road or canal of the corporation lies partly within
and partly without this State, or is operated as a part of a line or system
extending beyond this State, the tax shall be equal to two per centum
of the gross transportation receipts earned within this State, except that
the amount of such franchise tax on every railway corporation operating
an electric railway or railways shall be equal to two and one-tenth per
centum of the gross transportation receipts earned within this State, to
be determined as follows:

By ascertaining the average gross transportation receipts per mile
over its whole extent within and without this State, and multiplying
the result by the number of miles operated within this State; provided,
that from the sum so ascertained there may be deducted a reasonable
sum because of any excess of value of the terminal facilities or other
similar advantages situated in other states over similar facilities or
advantages situated in this State.

Whenever such railway corporation operating an electric railway
or railways shall operate motor vehicles engaged in transporting persons
or property solely within the limits of any city or town in this State, as
an auxiliary to or in connection with such electric railway operations,
then the gross receipts derived from such motor vehicle operation shall
be treated as electric railway receipts and be subject to the same annual
State franchise tax as provided for herein.

The real estate and tangible personal property (other than the rolling
stock of corporations Operating railroads by steam), of such corporation,
but not its franchise, shall be assessed on the valuation fixed by the State
Corporation Commission with county, city, town, district and road
levies at the same rate as real estate and tangible personal property of
natural persons are assessed with such levies.

No State tax, county, city, town, district or road levy shall be laid
on the net income of any railway or canal corporation, nor shall any
county, city, town, district or road levy be laid on the gross transporta-
tion receipts of any such company.

All the taxes and levies shall, until paid, be a lien upon the property
within this State of the corporation owning the same, and take precedence
of all other liens or encumbrances.

Any such railway or canal corporation, or the State or any county
or city, at the instance of the Attorney General for the State or the
Commonwealth’s attorney for any county or city, aggrieved by the assess-
ment and ascertainment of such taxes, may, within thirty days after
receiving a certified copy thereof, apply for relief to the Circuit Court
of the city of Richmond. Notice of the application setting forth the
grounds of complaint, verified by affidavit if the appeal be taken by
any such railway or canal corporation shall be served on the State
Corporation Commission, and on the Attorney General, whose duty
it shall be to represent the Commonwealth, or, if the appeal be taken
by the State or any county or city, notice of the application, setting forth
the grounds of complaint, shall be served on such railway or canal cor-
poration. If the court be of opinion that the assessment or tax is exces-
sive, it shall reduce the same, but if of the opinion that it is insufficient,
it shall increase the same. Unless the applicant paid the taxes under
protest when due, the court, if the decision is adverse to the applicant,
shall, in disallowing the application, give judgment against it for the
taxes assessed by the State Corporation Commission, and for a sum,
by way of damages, equal to interest at the rate of one per centum per
month upon the amount of taxes from the time the same were payable.
If the decision is in favor of such railway or canal corporation, in whole
or in part, appropriate relief shall be granted, including the right to
recover any excess of taxes that may have been paid, with legal interest
thereon, and the legally taxable costs of said application from the State
or local authorities, or both, as the case may be, the judgment to be en-
forced by mandamus or other proper process issuing from the court
finally adjudicating the application. If the decision be in favor of the
State or any county or city, appropriate relief shall be granted and the
court shall enforce its judgments by mandamus or other proper process.
The Supreme Court of Appeals may, subject to the provisions of article
six of the Constitution, allow a writ of error to either party; provided,
however, that any steam railway company in which nine-tenths of the
stock of such company is owned by a city or county of this State and
which is operated at a loss, shall pay to the State an annual franchise
tax of only five dollars.

The provisions of this section, as hereby amended, shall apply to the
assessment for the tax year nineteen hundred and forty-nine and annually
thereafter, unless otherwise provided by law.

Section 216-b. Motor is transportation companies in cities and
towns.—All corporations engaged in the business of operating motor
vehicles for the transportations of persons or property, or both, over
fixed routes within the limits of any city or town in this State shall report
annually, on or before the first day of May, to the State Corporation
Commission, all of its real and personal property of every description,
tangible and intangible (including rolling stock) used in such business,
as of the beginning of the first day of January preceding, showing par-
ticularly in what city, town or county and school district therein such
property is located. Each such corporation shall also report its gross
transportation receipts from such motor vehicle operations in this State
for the twelve months ending December thirty-first next preceding.

The report required herein shall be made on forms and in the manner
prescribed by the State Corporation Commission and shall be certified
by the oath of the president or other proper person making the same.

The State Corporation Commission shall, after thirty days’ notice
previously given the president or other proper person, assess the value
of the property of each such corporation, and shall assess the license tax
hereinafter provided for.

Should any such corporation fail to make the reports required by
this section on or before the first day of May of each year, the State
Corporation Commission shall, at such time as it may elect, upon the
best and most reliable information that can be procured, assess the value
of the property of such corporation and the license tax provided for
herein, and shall in the execution of such duties be authorized and
empowered to send for persons and papers.

The State Corporation Commission shall assess upon said property
the State taxes, if any, imposed thereon by law.

A certified copy of the assessment of State taxes when made shall
be immediately forwarded by the clerk of the State Corporation Commis-
sion to the Comptroller and to the president of each such corporation, or
other proper person, and such corporation shall pay into the treasury
of the State by the first day of October following said State taxes
assessed against it.
It shall be the duty of the clerk of the State Corporation Commission
to furnish to the council of every city and town and to the board of
supervisors of every county wherein any property belonging to such
corporation is situated a certified copy of the assessment of the value
thereof made by the State Corporation Commission of such corporation’s
real and tangible personal property, which assessment shall definitely
show the character of the property, its value and location for the purpose
of taxation, in each city, town or county and school district therein, so
that city, town, county and district levies may be imposed upon the
same by the proper local authorities.

Any such corporation failing to pay the State taxes into the treasury
within the time prescribed shall incur a penalty thereon of five per
centum, which shall be added to the amount of said taxes.

The State tax on the intangible personal property (other than shares
of stock, and bonds issued by counties, cities and towns or other political
subdivisions of this State) owned by every corporation falling under
the provisions of this section, shall be at the rate of fifty cents on every
hundred dollars of the assessed value thereof.

The State tax on the money of every corporation coming under the
provisions of this section shall be twenty cents on every one hundred
dollars of the assessed value thereof. .

There shall be no local levies assessed on such intangible personal
property and money.

On the real estate and tangible personal property of every corporation
coming under the provisions of this section there shall be local levies at
the same rate or rates as are assessed upon other real estate and tangible
personal property in such localities, which taxes shall be paid in the
same manner and shall be subject to the same penalties for non-payment
as is provided by law for other real and tangible personal property in
the county, city or town in which said property is located.

All State taxes and levies shall, until paid, be a lien upon all of the
property within this State of the corporation owning the same, and such
lien shall take precedence of all other liens or encumbrances thereon.

Each corporation coming within the provisions of this section shall
pay to the State an annual State license tax for the privilege of engaging
in the business herein described equal to two and one-tenth per centum
upon the gross transportation receipts from such business for the year
ending December thirty-first next preceding.

There shall not be included in the gross transportation receipts upon
which the license tax imposed on any corporation by this section is
computed, any gross transportation receipts from motor vehicles trans-
porting persons or property within the limits of any city or town and
operated by such corporation as an auxiliary to or in connection with
its electric railway operations where such gross transportation receipts
are included in computing the franchise tax imposed upon and paid by
such corporation under sections two hundred and fifteen and two hundred
and sixteen of this chapter, it being the intent of this section that as to
such corporations the license tax herein imposed shall apply only to opera-
tion of motor vehicles for the transportation of persons and property with-
in cities and towns where such motor vehicles are not operated as an
auxiliary to or in connection with the electric railway operations of such
corporations and where the gross transportation receipts from the
operation of such motor vehicles are not included in the base of the
franchise tax imposed upon and paid by such corporation under sections
two hundred and fifteen and two hundred and sixteen of this chapter.

Nor shall there be included in the gross receipts upon which the
license tax imposed on any corporation by this section is computed, any
gross transportation receipts from motor vehicles operated by such cor-
poration as a motor vehicle carrier as defined by law where such corpora-
tion is subject to and pays the road tax imposed by law on such gross
transportation receipts, it being the intent of this section that as to
such motor vehicle carriers the license tax herein imposed shall apply
only to the gross transportation receipts from the transportation of
persons or property within the limits of cities or towns.

No State tax, county, city, town or district levy shall be laid on the
net income of any corporation from its business coming within the
provisions of this section, but nothing herein shall be construed to pro-
hibit any city or town from imposing a license tax upon any such cor-
poration for the privilege of engaging in business in such city or town;
nor shall anything herein annul or interfere with or prevent any contract
or agreement by ordinance between such corporations and municipalities
as to compensation for the use of the streets or alleys of such municipali-
ties by such corporations.

The provisions of this section shall not apply to the operation of taxi-
cabs or other motor vehicles performing a bona fide taxicab service,
having a capacity of not more than six passengers and not operated on
a regular route or between fixed termini.

The provisions of this section shall apply to every person, firm or
association engaged in the business of operating motor vehicles for the
transportation of persons or property over fixed routes within the limits
of any city or town in this State.

othing herein contained shall exempt any such person, firm, asso-
ciation or corporation from motor vehicle license taxes or motor vehicle
fuel taxes.

The provisions of this section, as hereby amended, shall apply to
the assessment for the tax year nineteen hundred and forty-nine and
annually thereafter, unless otherwise provided by law.

Section 219. Taxes on express companies.—Each and every one
of the said express companies doing business in this State shall, on
or before the first day of October of each and every year, pay to the
State and to the several counties, cities and towns of the State wherein
they may have taxable properties located, the taxes levied on said
property as follows:

(a) The State tax on the intangible personal property (other than
shares of stock, and bonds issued by counties, cities and towns or other
political subdivisions of this State) owned by every such company, shall
be at the rate of fifty cents on every one hundred dollars of the assessed
value thereof.

(b) The State tax on the money of every such company shall be
twenty cents on every one hundred dollars assessed value thereof.

There shall be no local levies assessed on such intangible personal
property or money.

(c) On the real estate and tangible personal property of every
such company there shall be local levies at the same rate or rates as
are assessed upon other real estate and tangible personal property located
in such localities, the proceeds of which local levies shall be applied as is
provided by law.

(d) Every such company, for the privilege of doing business in this
State, in addition to the annual registration fee and the property tax as
herein provided, shall pay an annual license tax as follows:

Said tax shall be equal to the percentage herein fixed upon the
gross receipts from operations of such companies and each of them
within this State. When such companies are operating partly within
and partly without this State, the gross receipts within this State shall
be deemed to be all receipts on business beginning and ending within
this State and all receipts earned in Virginia on business passing through,
into or out of this State; provided, unless otherwise clearly shown, such
last mentioned receipts shall be deemed to be that portion of the total
receipts from such business which the entire mileage over which such
business is done bears to the mileage operated within this State. The
percentage above mentioned shall be as follows:

On all companies doing express business within this State, two and
three-twentieths per centum.

The amount of taxes and licenses herein imposed, and authorized
to be imposed, shall be in lieu of all other taxes and licenses, State, county,
and municipal, upon all the property, franchises and privileges of said
companies; provided, that nothing herein contained shall except the said
companies from the payment of any motor vehicle license or any motor
vehicle fuel tax, heretofore or hereafter imposed by law.

The provisions of this section, as hereby amended, shall apply to
the assessment for the tax year nineteen hundred and forty-nine and
annually thereafter, unless otherwise provided by law.

Section 222. Taxes on corporations which operate steamships,
steamboats or other floating property for the transportation of passengers
or freight—The State tax on the intangible personal property (other
than shares of stock, and bonds issued by counties, cities and towns or
other political subdivisions of this State) owned by corporations which
operate steamships, steamboats, or other floating property for the trans-
portation of passengers or freight, shall be at the rate of fifty cents on
every hundred dollars of the assessed value thereof.

The State tax on the money of every such company shall be twenty
cents on every hundred dollars assessed value thereof.
There shall be no local levies assessed on such intangible personal
property or money.

On the real estate and tangible personal property of every such
company there shall be local levies at the same rate or rates as are
assessed upon other real estate and tangible property located in such
localities, the proceeds of which local levies shall be applied as is pro-
vided by law.

Every such company for the privilege of doing business in this
State, in addition to the annual registration fee and property tax, shall
pay an annual State license tax as follows:

Such tax shall be equal to one and one-half per centum upon the
gross receipts from operations up to and not in excess of five hundred
thousand dollars and one and three-fourths per centum upon such
receipts in excess of that amount of such companies, and each of them,
within this State. When such companies are operated partly within and
partly without this State, the gross receipts within this State shall be
deemed to be all receipts on business beginning and ending within this
State and all receipts earned in Virginia on business passing through,
into, or out of this State; provided that unless otherwise clearly shown
such last mentioned receipts shall be deemed to be that proportion of the
total receipts from such business which the entire line mileage over
pier the business is done bears to the mileage operated within this

tate.

The provisions of this section, as hereby amended, shall apply to
the assessment for the tax year nineteen hundred forty-nine and every
tax year thereafter until otherwise ordered by law.

Section 224. Tax on sleeping car, parlor car, and dining car com-
panies.—Every such sleeping car, parlor car, and dining car company
operating and doing business within this State shall pay an annual tax
as follows:

Said tax shall be equal to two and one-half per centum of the gross
receipts from operations within this State. When such company is
operating partly within and partly without this State, the gross receipts
within this State shall be deemed to be all receipts on business beginning
and ending within this State and all receipts earned in Virginia on
business passing through, into or out of this State; provided, unless
otherwise clearly shown, such last mentioned receipts shall be deemed
to be that portion of the total receipts from such business which the
mileage over which it operated within this State bears to the entire
mileage over which such business is done.

The taxes herein imposed shall be in lieu of all other taxes, State,
county and municipal, against such companies except that they shall
be required to pay to the State the annual registration fee.

The provisions of this section, as hereby amended, shall apply to the
assessment for the tax year nineteen hundred and forty-nine and annually
thereafter, unless otherwise provided by law.

Section 227. License tax on telegraph and telephone companies, and
on any firm or person operating the apparatus necessary to communicate
by telegraph or telephone.—Each telegraph company and firm, or person,
operating the apparatus necessary to communicate by telegraph, shall, for
the privilege of doing business between points within this State, pay a
license tax as follows, to-wit: two dollars and twenty-five cents per
mile of pole line or conduits, including number of miles of other property
used in lieu of pole lines or conduits, such as buried cable, submarine
cable, or buried wire, owned, operated, or used by any company, firm or
person in this State, and an additional charge of three and five-eights
per centum of the gross receipts of the company, firm, or person received
(or due, though not received), from business done within this State
during the year ending thirty-first day of December.

The specific license tax to be paid by every corporation, person, or
association, for the privilege of operating the apparatus necessary to
communicate by telephone, shall be, when the gross receipts do not
exceed sixty-five thousand dollars, and when the number of miles of
pole line do not exceed seven hundred miles, and a majority of the
stock or other property of such company is not owned or controlled by
any other telephone or telegraph company whose receipts exceed sixty-
five thousand dollars, a sum equal to one and nine-sixteenths per centum
of the gross receipts of such corporation, person or association from
business done within this State during the year ending the thirty-first
day of December preceding; when the gross receipts from business
done within this State during any such year are in excess of sixty-five
thousand dollars, or the number of miles of pole line exceeds seven
hundred or a majority of the stock or other property of such company
is owned or controlled by any other telephone or telegraph company
whose receipts exceed sixty-five thousand dollars, the license tax shall
be a sum equal to one and nine-sixteenths per centum of such receipts
up to sixty-five thousand dollars and an additional sum equal to three
per centum of such receipts exceeding sixty-five thousand dollars, and,
in addition, a sum equal to two dollars and twenty-five cents per mile
of pole line or conduit, including number of miles of other property used
in lieu of pole lines or conduits, such as buried cable, submarine cable,
or buried wire, owned, operated, or used by such corporation, person,
or association in this State; provided that, when the gross receipts do
not exceed an average of two hundred dollars per mile of pole line or
conduits, including number of miles of other property used in lieu
of pole lines or conduits, such as buried cable, submarine cable, or buried
wire, a license tax on gross receipts shall be as herein provided, and
the additional sum equal to one dollar per mile of pole line or conduits,
including number of miles of other property used in lieu of pole lines
or conduits, such as buried cable, submarine cable, or buried wire,
owned, operated, or used by such corporation, person, or association in
this State, instead of two dollars and twenty-five cents per mile as here-
inabove provided ; when the number of miles of pole line exceeds seven
hundred and no license tax is paid upon gross receipts, the license tax
shall be a sum equal to ten dollars per mile of pole line or conduits
including number of miles of other property used in lieu of pole lines or
conduits, such as buried cable, submarine cable, or buried wire, owned,
operated, or used by such corporation, person or association in this
State; provided that no license tax shall be charged against any tele-
phone company, chartered in this State for the privilege of prosecuting
its business when such company is purely a local mutual association, and
does not charge others for transmitting messages over its line, or lines,
and is not designed to accumulate profits for the benefit of, or to pay
dividends to, the stockholders or members thereof.

The license tax to be paid by any firm or person, not incorporated,
transacting a telegraph or telephone business, or owning or operating
a telegraph or telephone instrument, line or conduit, shall be assessed by
the commissioner of revenue for the county and city wherein the prin-
cipal office of such firm or person is located, or in which such firm or
person resides.

The provisions of this section, as hereby amended, shall apply to the
assessment for the tax year nineteen hundred and forty-nine and annually
thereafter, unless otherwise provided by law.

Section 229. Taxes on water or heat, light and power companies.—
The State tax on the intangible personal property (other than shares
of stock, and bonds issued by counties, cities and towns or other political
subdivisions of this State) owned by every corporation doing in this
State the business of furnishing water or heat, light and power, whether
by means of electricity or gas, shall be at the rate of fifty cents on
every hundred dollars of the assessed value thereof.

The State tax on thé money of every corporation doing in this
State the business of furnishing water or heat, light and power, whether
by means of electricity or gas, shall be twenty cents on every one hundred
dollars assessed value thereof.

There shall be no local levies assessed on such intangible personal
property or money. _

On the real estate and tangible personal property of every corporation
doing in this State the business of furnishing water or heat, light and
power, whether by means of electricity or gas, there shall be local levies
at the same rate or rates as are assessed upon other real estate and tang-
ible personal property, located in such localities, and proceeds of which
local levies shall be applied as provided by law.

Every corporation coming within the provisions of this and the
preceding section shall pay to the State for each tax year an annual State
franchise tax equal to one and one-eighth per centum of its gross
receipts from all sources up to one hundred thousand dollars for such
gross receipts and three and one-half per centum of all such gross receipts
in excess of one hundred thousand dollars, from all sources, for the priv-
ilege of exercising its franchise in this State, which, with the taxes herein-
before provided for, shall be in lieu of the annual State merchants’ license
tax required under section one hundred and eighty-eight of the Tax
Code of Virginia, and all State taxes or license charges whatsoever
upon the franchises of such corporation, and the shares of stock issued
by it, and upon all its property as hereinbefore provided ; provided, that
nothing herein contained shall exempt such corporation from motor
vehicle license taxes or motor vehicle fuel taxes, or the annual fee re-
quired by section one hundred and fifty-seven of the Constitution, or
trom assessments for street and other local improvements, which shall
be authorized by law, nor from the county, city, town, district, or road
levies; provided, that any city or town may impose a license tax upon
such corporation for the privilege of doing business therein, which
shall not exceed one-half of one per centum of the gross receipts of
such business accruing to such corporation from said business in such
city or town; and, provided, further, that from the amount of any such
license tax there shall be deducted any sum or sums paid by such cor-
porations to such city or town as a merchant’s license tax, and license
taxes, except motor vehicle license taxes ; and provided further, that noth-
ing herein contained shall annul or interfere with or prevent any contract
or agreement by ordinance between such corporations and municipalities
as to compensation for the use of the streets or alleys of such municipali-
ties by such corporations.

The real estate and tangible personal property of such corporation,
but not its franchise, shall be assessed on the valuation fixed by the
State Corporation Commission with county, city, town, district and
road levies, at the same rate as real and personal property of natural
persons are assessed with such levies.

No State tax, county, city, town, district or road levy shall be laid on
the net income of any such corporation, nor shall any county, city, town,
district or road levy be laid on the gross receipts of any such company.

All taxes and levies shall, until paid, be a lien upon the property
within this State of the corporation owning the same, and take precedence
of all other liens or encumbrances.

Any such corporation, or the State or any county or city, at the
instance of the Attorney General of the State, or of the Commonwealth’s
Attorney for any county or city aggrieved by the assessment and ascer-
tainment of such taxes, may within thirty days after receiving a certified
copy thereof, apply for relief to the Circuit Court of the city of Richmond.
Notice of the application setting forth the grounds of complaint, verified
by affidavit, if the appeal be taken by such corporation, shall be served
on the State Corporation Commission, and on the Attorney General,
whose duty it shall be to represent the Commonwealth, or if the appeal
be taken by the State or any county or city, notice of the application,
setting forth the grounds of complaint shall be served on such corpora-
tion. If the court be of the opinion that the assessment or tax is excessive,
it shall reduce the same, but if of the opinion that it is insufficient, it
shall increase the same. Unless the applicant paid the taxes under pro-
test when due, the court, if the decision is adverse to the applicant,
shall, in disallowing the application, give judgment against it for the
taxes assessed by the State Corporation Commission, and for a sum,
by way of damages, equal to interest at the rate of one per centum per
month upon the amount of the taxes from the time same were payable.
If the decision is in favor of such corporation, in whole or in part,
appropriate relief shall be granted, including the right to recover any
excess of taxes that may have been paid with legal interest thereon and
the legally taxable cost of said application from the State or local
authorities, or both, as the case may be, the judgment to be enforceable
by mandamus or other proper process issuing from the court finally
adjudicating the application. If the decision be in favor of the State or
any county or city, appropriate relief shall be granted, and the court
shall enforce its judgment by mandamus or other proper process.

The Supreme Court of Appeals may, subject to the provisions of
article six of the Constitution, allow a writ of error to either party.

The provisions of this section, as hereby amended, shall apply to
the assessment for the tax year nineteen hundred and forty-nine and
annually thereafter, unless otherwise provided by law.