Code of Virginia

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Code of Virginia
Title 58.1. Taxation
Chapter 32. Real Property Tax

§ 58.1-3284. Assessment of standing timber trees owned by person who owns land surface; when owned separately.

A. When the land surface and standing timber trees are owned by the same person, the value of the land, inclusive of the standing timber trees, shall be ascertained and assessed at such ascertained value.

B. In any case when the surface of the land is owned by one person and the standing timber trees thereon are owned by another, the relative value of each shall be determined and the owners shall be assessed with the value of their respective interests.

Code 1950, § 58-804; 1958, c. 314; 1970, c. 440; 1971, Ex. Sess., cc. 3, 172; 1975, c. 547; 1980, c. 360; 1984, c. 675.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.