All taxable real estate, all taxable coal and other mineral lands, and all taxable tangible personal property and the tangible personal property of public service corporations, except rolling stock of corporations operating railroads, and also the capital of merchants are hereby segregated and made subject to local taxation only.\nCode 1950, § 58-9; 1971, Ex. Sess., c. 33; 1984, c. 675.
Virginia Legal Code