Virginia § 58.1-2655 - Assessment by Department and Commission
Full text of Virginia Code of Virginia § 58.1-2655 — Assessment by Department and Commission, with citation guidance and answers to common questions.
§ 58.1-2655. Assessment by Department and Commission
A. The Tax Commissioner shall annually assess for local taxation the value of the real and tangible personal property, including real property used for common carrier purposes, of each railroad, except for nonoperating (noncarrier) property which shall be assessed pursuant to § 58.1-3201, upon the best and most reliable information that can be procured, and to this end shall be authorized and empowered to send for persons and papers. The Tax Commissioner shall also assess upon the rolling stock of such railroads the taxes imposed by § 58.1-2652.
B. The Commission shall assess the average value of the rolling stock of each motor vehicle carrier used in the Commonwealth.
In the case of an interstate carrier, the rolling stock used in the Commonwealth shall be deemed to be that portion of the total rolling stock, owned or operated on the public highways of the Commonwealth, multiplied by a fraction wherein the numerator is the total vehicle miles traveled by such rolling stock in the Commonwealth and the denominator is the total vehicle miles traveled both within and without the Commonwealth on such operations as are related to the Commonwealth.
C. The Tax Commissioner shall assess, from the best and most reliable information that can be obtained, upon the rolling stock of a freight car company the taxes imposed by § 58.1-2652.
D. No local property taxes shall be imposed upon the rolling stock of a railroad or a freight car company.
Code 1950, §§ 58-529, 58-558, 58-620; 1972, c. 813; 1978, c. 784; 1983, c. 570; 1984, c. 675; 1985, c. 30; 1992, c. 388.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 58.1-2655
What does Code of Virginia § 58.1-2655 cover?
Section 58.1-2655 ("Assessment by Department and Commission") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 58.1-2655?
A common citation format is "Code of Virginia § 58.1-2655" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 58.1-2655 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.