During 1978, Revenue Resources and Economic Commission has conducted a study of personal property taxation. The study included analysis of the law, some investigation of the impact of the tax, and examination of assessment practices and procedures throughout the State. The Commission found that the statutes are confusing and antiquated and that assessment practices are extremely varied and localized.

The report follows. Part one is a summary of recommendations, part two is the full report narrative, and part three contains proposed legislation. Additional tables are found in Personal Property Taxation in Virginia, A Staff Report to Revenue Resources and Economic Commission, 1978.