Virginia § 58.1-3601 - Property becomes taxable immediately upon sale by tax-exempt owner
Full text of Virginia Code of Virginia § 58.1-3601 — Property becomes taxable immediately upon sale by tax-exempt owner, with citation guidance and answers to common questions.
§ 58.1-3601. Property becomes taxable immediately upon sale by tax-exempt owner
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.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 58.1-3601
What does Code of Virginia § 58.1-3601 cover?
Section 58.1-3601 ("Property becomes taxable immediately upon sale by tax-exempt owner") 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 § 58.1-3601?
A common citation format is "Code of Virginia § 58.1-3601" (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 § 58.1-3601 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.