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Business Personal Property
What is Business Personal Property? - ALL equipment, furniture, fixtures, books, appliances, tools, office equipment, cash registers, and any other item used in the pursuit of your business.
Business Personal Property Rate - $4.00/$100 value - Personal property, other than motor vehicles, used in a trade or business is subject to local taxation as Business Personal Property. Returns are due no later than May 1 for property in use as of January 1 of a tax year. Business Personal Property is valued at 25 percent of original capitalized cost.
If you have Business Personal Property, you must file with the Commissioner of the Revenue's Office by May 1 of every year. Business Personal Property is assessed by that office. Any questions about these assessments should be forwarded to that office at 757-253-6699. The due dates are August 5 and December 5.
Additional Fees associated with Business:
- Business License
- Manufacturing Machinery and Tool tax
- Food and Beverage tax
- Transient Occupancy tax
- Business Taxes (Commonweath of Virginia) - sales tax, corporate tax, litter tax, tobacco tax.