FY 2025 Approved Tax Rates and Fees for Major Revenue Sources
| Tax | City Approved Rate | Code of Virginia Reference | Maximum Rate Allowable by State | ||
|---|---|---|---|---|---|
| Real Estate Tax | $1.135 per $100 of assessed value | 58.1-3200 | None set | ||
| Residential Refuse Fee | $500 per can per year (billed in $250 increments with real estate taxes) | N/A | |||
| Stormwater Utility Fee |
| N/A | |||
| Personal Property Tax: | |||||
| Tangible personal property | $4.75 per $100 of assessed value | 58.1-3500 et seq. | None set | ||
| Machinery and tools | $4.50 per $100 of assessed value | None set | |||
| Mobile homes | $1.135 per $100 of assessed value | None set | |||
| Automobiles | $5.33 per $100 of assessed value | None set | |||
| Automobiles (10,000 lbs or more) | $4.50 per $100 of assessed value | None set | |||
| Automobiles (handicap equipment) | $3.55 per $100 of assessed value | 58.1-3506-b | None set | ||
| Boats | $0.01 per $100 of assessed value | 58.1-3506.1 | None set | ||
| Utility Consumer Tax: | |||||
| Electric (residential) |
| 58.1-3814 | $3.00 monthly | ||
| Electric (residential group meter) |
| 58.1-3814 | $3.00 monthly | ||
| Electric (commercial) |
| 58.1-3814 | |||
| Electric (industrial) |
| 58.1-3814 | |||
| Natural Gas (residential) |
| 58.1-3814 |
| ||
| Natural Gas (residential group meter) |
| $3.00 monthly | |||
| Natural Gas (residential group meter interruptible) |
| $3.00 monthly | |||
| Natural Gas (commercial/industrial) |
| 58.1-3814 | Charged | ||
| Natural Gas (non-residential interruptible) | $4.50 plus $0.00367 of each CCF of gas delivered | 58.1-3814 | Charged | ||
| Water (residential) | 15% of the monthly amount charged to consumers of the utility service | 58.1-3814 | ** | ||
| Water (commercial/industrial) | 20%, but if the monthly bill exceeds $150 then no tax is computed on the amount above $150 | 58.1-3814 | 20% of the monthly amount charged | ||
| Business and Professional Licenses* | |||||
| Amusement | $0.36 per $100 of gross receipts | 58.1-3700 et seq. | $0.36 | ||
| Professional | $0.58 per $100 of gross receipts | 58.1-3700 et seq. | $0.58 | ||
| Renting of Residential Property | $0.50 per $100 of gross receipts | 58.1-3700 et seq. | $0.58 | ||
| Renting of Commercial Property | $0.35 per $100 of gross receipts | 58.1-3700 et seq. | $0.58 | ||
| Financial Services | $0.35 per $100 of gross receipts | 58.1-3700 et seq. | $0.58 | ||
| Services | $0.35 per $100 of gross receipts | 58.1-3700 et seq. | $0.36 | ||
| Retail Merchants | $0.20 per $100 of gross receipts | 58.1-3700 et seq. | $0.20 | ||
| Contractors | $0.16 per $100 of gross receipts | 58.1-3700 et seq. | $0.16 | ||
| Wholesale Merchants | $0.05 per $100 of gross receipts | 58.1-3700 et seq. | $0.05 | ||
| Alcoholic Beverages | $5-$1,500 (flat fee assessed as part of business license for sales of alcoholic beverages; fee is dependent upon seating capacity and/or type of license) | 4.1-233 | Various | ||
| Public Utilities - Telephone | $0.50 per $100 of gross receipts excluding charges for long distance calls | 58.1-3731 | $0.50 | ||
| Public Utilities - Water | One-half of one percent of the gross receipts | 58.1-3731 | 0.5% | ||
| Public Rights-of-Way Use Fee | $1.88 per access line (effective July 1, 2024) | 56-468.1 | Minimum of $0.50 per line per month; annual rate calculated by VDOT | ||
| Electric Consumption Tax | $0.00038/kWh | 58.1-2900 | $0.00038 per kWh | ||
| Natural Gas Consumption Tax | $0.004 per CCF | 58.1-2904 | $0.004 per CCF | ||
| Communications Sales and Use Tax | 5% of the sales price of each communications service that is sourced to the Commonwealth | 58.1-648 | 5.0% | ||
| Admissions Tax | 10% of any admission charge, not to exceed $0.50 per person admitted | 58.1-3840 | None set | ||
| Cigarette Tax | $1.26 per package of 20 cigarettes |
| $1.26 per package of 20 cigarettes | ||
| Short-Term Rental Tax | 1.0% of the gross proceeds of business arising from rentals (1.5% heavy equipment) | 58.1-3510.4 | 1.0% or 1.5% | ||
| Local Sales Tax | 1.0% on sales (added to the rate of the State tax imposed) | 58.1-605 | 1.0% | ||
| Transient Lodging Tax | 6.5% of the total amount paid for room rental, plus $1.25 per night lodging fee | 58.1-3840 | None set | ||
| Restaurant Meals Tax | 5.0% of the total charge of a meal**** | 58.1-3840 | None set | ||
| Recordation Tax | Local Portion: $0.083 per $100 of sales price/loan value (equals State max) | 58.1-3800 | One-third of state charges | ||
| Late Payment Tax Penalty | 10% or $10, whichever is greater | 58.1-3916 | 10% or $10*** | ||
| For Personal Property Tax | Late payment penalty increases to 25% if paid more than 30 days late | 25% | |||
| Tax Interest | 10% for the first year and 5% for each year thereafter. Equals refund rates. | 10.0% | |||
| Residential Parking Permit | $40 for first vehicle, $50 for second vehicle, $150 for each additional | None set |
*Tax rate applies to businesses with gross receipts of $100,000 or above. Businesses with gross receipts of at least $10,000 but no more than $99,999 will be assessed a license tax of $50.
**The City's existing tax rate exceeds the state cap. The state cap was established after the City had set this rate.
***The late payment penalty on real property is 5% if paid within 15 days of due date and 10% on the balance due thereafter.
****Of which 1.0% is dedicated to affordable housing.