An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1950 |
---|---|
Law Number | 373 |
Subjects |
Law Body
CHAPTER 373
AN ACT to amend and reenact §§ 58-14 and 58-16 of the Code
of 1950, relating to certain property exempt from State and
local taxation and assessment thereof.
[ H 396 ]
Approved April 5, 1950
Be it enacted by the General Assembly of Virginia:
1. That §§ 58-14 and 58-16 of the Code of 1950 be amended
and reenacted as follows:
§ 58-14. Exemptions not applicable when building is
source of revenue.—Whenever any building or land, or part
thereof, mentioned in § 58-12, 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 taxation
as Other land and buildings in the same county, city or town,
except as is now or may hereafter be provided by law; provided,
that when a part but not all of any such building or land shall
be leased or otherwise be a source of revenue or profit, and the
remainder of such building or land shall be used by any organt-
zation specified in § 58-12 for its purposes, only such portion
thereof shall be liable to taxation as is so leased or is otherwise
a source of profit or revenue.
§ 58-16. Assessment of building used only partly for
benevolent, religious or charitable purposes.—In assessing any
building and the land it occupies which may be owned exclu-
sively by * any organization or association mentioned in § 58-12
but all of which is not used exclusively for * its purposes, the
assessing officers shall * only assess for taxation that portion of
said property subject to any such lease or otherwise a source of
profit or revenue and the tax shall be computed on the basis of
the ratio of the space subject to any such lease or otherwise a
source of profit or revenue to the entire property; provided that
when any such property is leased for portions of a year the tax
shall be computed on the basis of the average use of such prop-
erty for the preceding year.