                                 CODE OF VIRGINIA

MINERAL LANDS AND MINERALS TO BE INCLUDED IN GENERAL REASSESSMENT OF REAL ESTATE
(§ 58.1-3287)

Notwithstanding § 58.1-3286, whenever there is a general reassessment of real
estate in any county or city, mineral lands and minerals shall be included in
the general reassessment, but shall be separately assessed from other real
estate, and the assessor or assessors shall be governed by the provisions of §
58.1-3286 in making the assessment. Taxes for each year on the mineral lands and
minerals assessed under this section shall be extended by the commissioner of
the revenue on the basis of the last general reassessment made prior to such
year, subject to such changes as may be made by him in performing his annual
duties under § 58.1-3286. In performing such annual duties he shall adjust the
assessed values in such manner as to reflect such changes as may have occurred
during the preceding year, especially such changes as may have operated to
increase or decrease (i) the area and the value of such portion of each tract as
is improved and under development, (ii) the value of the improvements upon each
tract, and (iii) the area and value of such portion of each tract as shall not
be under development.

Every county in which there are mineral lands shall have a general reassessment
of real estate in the year prescribed by law, even though the greater part of
the area of the county consists of mineral lands.

The Department shall render advisory aid and assistance of a technical nature to
the assessor or assessors, in making a general reassessment of mineral lands and
minerals, upon request of the governing body of the county or city, or to the
commissioner of the revenue, upon his request, provided moneys are available to
the Department to defray the cost thereof.

HISTORY: Code 1950, § 58-774.2; 1950, p. 1269; 1964, c. 296; 1983, c. 304;
1984, c. 675.