Skip to main content
Find a Lawyer

Virginia Taxation Update: 1997

This article was edited and reviewed by FindLaw Attorney Writers

| Last reviewed

This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw’s team of legal writers and attorneys and in accordance with our editorial standards.

The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area.

Because this is an election year, few significant tax bills were passed by the General Assembly. Following are some bills that may be of interest:

Personal Property Taxes

Payment Options. Localities may now offer options permitting taxpayers to pay their tangible personal property tax monthly, bi-monthly, quarterly, semi-annually or in a lump sum, provided that the total amount of property tax is paid in full by the final due date. Check with your local Commissioner of the Revenue to see if your locality has implemented such a payment program. (HB 1881)

Business, Professional and Occupational License (BPOL) Tax

Uniform Ordinance Provisions. Local jurisdictions with populations exceeding 50,000 may now waive BPOL requirements for businesses with gross receipts under $100,000.00. (HB 2447)

License Tax v. License Fee. Local jurisdictions may assess either a license tax or a license fee on businesses but no longer may assess both a license tax and a license fee on businesses. This bill becomes effective on July 1, 1998. (HB 2783)

Reclassification of Business Personal Property. Business tangible personal property and business computer equipment is no longer classified as general tangible personal property and has been changed to other classifications for valuation purposes. This will allow local jurisdictions to establish a lower rate for these classes of business property. (HB 2314)


Clark H. Worthy
Mr. Worthy is an Associate with the Firm.
E-mail: worthy@woodsrogers.com

Was this helpful?

Copied to clipboard