CHAPTER 712
HOUSE JOINT RESOLUTION NO. 10
Proposing amendment to § 169 of the Constitution of Virginia.

Agreed to by the Senate March 8, 1954
Agreed to by the House of Delegates March 9, 1954

Resolved by the House of Delegates, the Senate concurring, a majority
of the members elected to each House agreeing, that the following amend-
ment to the Constitution of Virginia be, and the same is, hereby proposed
and referred to the General Assembly at its first regular session held after
the next general election of members of the House of Delegates for its
concurrence in conformity with the provisions of section one hundred
ninety-six of the Constitution, namely:

Strike from the Constitution of Virginia section one hundred sixty-
nine, which is as follows:

§ 169. Except as hereafter provided, all assessments of real estate
and tangible personal property shall be at their fair market value, to be
ascertained as prescribed by law. So long as the State shall levy upon any
public service corporation, other than a railway or a canal corporation, a
State franchise, license, or other tax, based upon or measured by its gross
receipts, or gross earnings, or any part thereof, its real estate and tangible
personal property shall be assessed by the State Corporation Commission,
or other central State agency, in the manner prescribed by law. The Gen-
eral Assembly may allow a lower rate of taxation to be imposed for a period
of years by a city or town upon land added to its corporate limits, than is
imposed on similar property within its limits at the time such land is added.

And insert in lieu thereof the following:

§ 169. Except as hereafter provided, all assessments of real estate
and tangible personal property shall be at their fair market value, to be
ascertained as prescribed by law. So long as the State shall levy upon any
public service corporation, other than a railway or a canal corporation, a
State franchise, license, or other tax, based upon or measured by its gross
receipts, or gross earnings, or any part thereof, its real estate and tangible
personal property shall be assessed by the State Corporation Commission,
or other central State agency, in the manner prescribed by law. The Gen-
eral Assembly may allow a lower rate of taxation to be imposed for a period
of years by a city or town upon land added to its corporate limits, than is
imposed on similar property within its limits at the time such land is
added. The General Assembly may define as a separate subject of taxation
household goods and personal effects and may allow the governing bodies of
counties, cities, and towns to exempt or partially exempt such property
from taxation.