Town tax

Va. Code Ann. § 58.1-1209
in effect
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Any incorporated town in this Commonwealth in which is located a bank may, by ordinance, impose a tax not to exceed 80 percent of the state rate of taxation for each $100 of the net capital of a bank located in such town. If such bank also has offices that are located outside the corporate limits of such town, the tax shall be apportioned as provided in § 58.1-1211 . Code 1950, § 58-485.010; 1980, c. 578; 1984, c. 675.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/58.1-1209/Fetched: 10/16/2026

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