§ 58.1-3601. Property becomes taxable immediately upon sale by tax-exempt owner

VA Code § 58.1-3601 (2019) (N/A)
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Any property exempt from taxation pursuant to this chapter which is subsequently sold to a person not having tax-exempt status shall immediately become subject to taxation and be assessed therefor. The tax levied for the current year shall be prorated for the remainder of the tax year.

Code 1950, § 58-16.1; 1964, c. 178; 1984, c. 675.