When cargo in transit not deemed to have acquired a situs for taxation

Va. Code Ann. § 58.1-3514, under Chapter 35. Tangible Personal Property, Machinery and Tools and Merchants' Capital..

Va. Code Ann. § 58.1-3514

Cargo, merchandise and equipment in transit which is stored, located or housed temporarily in a marine or airport terminal prior to being transported by vessels or aircraft to a point outside the Commonwealth, shall not acquire a situs for property taxation by the Commonwealth or any of its counties, cities or towns.