CHAPTER 231

An Act to amend and reenact § 58-851, as amended, of the Code of
Vergtnia, relating to different rates of tax levy on different classes
of Property. [H 216}

Approved March 31, 1966

Be it enacted by the General Assembly of Virginia:

1. That § 58-851, as amended, of the Code of Virginia be amended and
reenacted as follows:

§ 58-851. The governing body of any county, city or town in laying
levies on all taxable real estate, tangible personal property and merchants’
capital may impose one rate of levy on real estate, another rate of levy
on tangible personal property and another rate of levy on merchants’
capital or it may impose the same rate of levy on any two or all of these

jects of taxation.

The governing body of any county, city or town may in its discretion
classify farm machinery, farm tools, * farm livestock or tangible personal
property used or employed in a research and development business sep-
arately from other tangible personal property and may fix the rate of
levy thereon, but the rate shall not be higher than that imposed by it
n other tangible personal property in the county, city or town; nor
ll such tangible personal property used or employed in a research and
development business be taxed at a higher rate than the rate imposed on
machinery and tools used in manufacturing and mining by such county,
city or town.

The governing body of any county, city or town may in its discretion
classify household items set forth in § 58-829 (9), (10), (11) and (12)
separately from other tangible personal property and may fix the rate of
levy thereon, but the rate shall not be higher than that imposed by such
ae ar on body upon other tangible personal property in such county,
city or town.