Code of Virginia § 58.1-3664. Environmental restoration sites.
149 words·~1 min read·
/va/title-58-1/chapter-36/58-1-3664·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Environmental restoration sites, as defined herein, are hereby declared to be a separate class of property and shall constitute a classification for local taxation separate from other such classification of real property. The governing body of any county, city or town may, by ordinance, exempt or partially exempt such property from local taxation annually for a period not in excess of five years.
"Environmental restoration site" means real estate which contains or did contain environmental contamination from the release of hazardous substances, hazardous wastes, solid waste or petroleum, the restoration of which would abate or prevent pollution to the atmosphere or waters of the Commonwealth and which
(i)is subject to voluntary remediation pursuant to § 10.1-1232 and
(ii)receives a certificate of continued eligibility from the Virginia Waste Management Board during each year which it qualifies for the tax treatment described in this section.
1997, c. 849 .