The rolling stock tax of certificated motor vehicle carriers as provided in § 58.1-2652 shall be distributed to the counties, cities and incorporated towns of the Commonwealth in the following manner:
The Commission shall determine the proportion of the total vehicle miles operated by each carrier in this Commonwealth for each county, city and incorporated town. The fraction thus derived for each county, city and incorporated town shall be the measure of the total rolling stock tax assessed against such carrier to which the respective county, city and incorporated town shall be entitled.
The clerk of the Commission shall certify to the Comptroller the respective sums so allocated to the respective county, city and town and the Comptroller shall thereupon make payment to the treasurer or other proper fiscal officer of the locality the amount due them as certified by the Commission. When received by the respective local political subdivisions, these payments shall constitute and be regarded as receipts for the general purposes of local government.
No local property taxes shall be imposed upon the rolling stock of a certificated motor vehicle carrier.
Code 1950, § 58-623; 1984, c. 675.
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