Va. Code § 58.1-1209
Current with changes from the 2024 legislative session through ch. 845
Any incorporated town in this Commonwealth in which is located a bank may, by ordinance, impose a tax not to exceed 80 percent of the state rate of taxation for each $100 of the net capital of a bank located in such town. If such bank also has offices that are located outside the corporate limits of such town, the tax shall be apportioned as provided in § 58.1-1211.
Va. Code § 58.1-1209