Code of Virginia

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Code of Virginia
Title 58.1. Taxation
Chapter 39. Enforcement, Collection, Refunds, Remedies and Review of Local Taxes

§ 58.1-3920.1. Interest on funds received in prepayment of local taxes.

The governing body of any county, city or town may provide, by ordinance, for a program permitting the voluntary prepayment of designated local taxes at any time before such taxes have been assessed or, if assessed, before such taxes are due and payable. The program may provide for the payment of interest at a rate established by ordinance. The governing body may further provide that, upon payment in full of any and all taxes due from such taxpayer, the accrued interest or any remaining portion thereof may be paid to the taxpayer or held in prepayment of tax obligations to be assessed at a later date, at the taxpayer's election.

1989, c. 34.

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.