City of Richmond v. SunTrust Bank

PRESENT: Kinser, C.J., Lemons, Millette, Mims, McClanahan, and Powell, JJ., and Koontz, S.J. CITY OF RICHMOND OPINION BY v. Record No. 102409 JUSTICE LEROY F. MILLETTE, JR. March 2, 2012 SUNTRUST BANK FROM THE CIRCUIT COURT OF THE CITY OF RICHMOND Beverly W. Snukals, Judge The question presented by this appeal is whether a municipal corporation has the authority to tax a non-exempt entity for an exempt entity's ownership interest in property owned by the two entities as tenants in common. We hold that it does not. I. A. SunTrust Bank and the Richmond Redevelopment and Housing Authority (RRHA)…