Taxes
5Roanoke County Taxes
In Virginia, cities are independent from the surrounding counties and are, therefore, separate taxing entities. A business or individual pays taxes only to the city or county, not both. Residents of incorporated towns may pay taxes to both the county and town if both provide services.
Real Estate Tax Rates
| Type of Rate | Rate |
|---|---|
| Nominal Tax Rate | $1.06 (per $100 assessed value) |
| Assessment Ratio | 94% |
| Effective Tax Rate | $1.00 |
Machinery & Tools Tax Rates
| Type of Rate | Rate |
|---|---|
| Nominal Tax Rate | $2.80 per $100 assessed value |
| Value used for Taxes | Original total capitalized cost |
| Assessment Ratio: Years 1 through 5 | 25% |
| Assessment Ratio: Years 6 through 10 | 20% |
| Assessment Ratio: Years 11 and Up | 15% |
Business License Tax Rates (BPOL)
| Business Type | Tax Rate per $100 of Gross Receipts | |
|---|---|---|
| Retailers | 0.20 | |
| Wholesalers & Distributors | 0.05 per $100 of gross purchases | |
| Professional, Financial & Real Estate services | 0.58 | |
| Business services | 0.36 | |
| Contractors | 0.16 |
For more information concerning business and occupational licenses go to the Roanoke County Code and see Chapter 10 - LICENSES.
Prepared Food & Beverage Tax Rate
The Prepared Food and Beverage Tax Rate is 4% of the total cost of prepared food and beverage.
Transient (Lodging) Tax Rate
A transient occupancy tax is imposed on hotels and travel campgrounds equivalent to 7% of the total amount of charge for occupancy of any room or space provided.
Tangible Business Personal Property Rates
| Type of Rate | Rate |
|---|---|
| Nominal Rate | $3.40 per $100 assessed value |
| Assessment Ratio | 60% (reduced by 10% per year thereafter; minimum 20% or $100) |
Personal Property Rates (Vehicles)
| Type of Rate | Rate |
|---|---|
| Nominal Rate | $3.40 per $100 assessed value |
| Value Used for Taxes | Loan Value (NADA) |
| Assessment Ratio | 100% |
Vehicle License Fee
The Vehicle License Fee is $20 to $25, depending on the weight and kind of vehicle.
Utility Tax Rates
| Utility | Tax Rate |
|---|---|
| Electric | $0.90 + $0.00640 per kilowatt hour ($600 max) |
| Gas | $0.90 + $0.12183 per centum cubic foot (CCF) ($600 max) |
| Water | 12% on first $5,000 |
Virginia Taxes
Corporate Income Tax
The Virginia Corporate Income Tax Rate is 6% of corporation's Virginia taxable income.
Retail Sales Tax
The Virginia Retail Sales Tax Rate is 5.3% on non-food items (4.3% state and 1% local tax) (July 1, 2013).
Sales Tax Exemptions
- Certified pollution control equipment and facilities
- Custom computer software
- Items purchased for resale by distributors
- Items used in research and development
- Manufacturer's purchases used directly in production, including machinery, tools, spare parts, raw materials and industrial fuels
- Services (legal, accounting, advertising, consulting)
Unemployment Tax
Newly covered employers are taxed at 2.5% on a taxable wage base of $8,000.
Items Not Taxed
Virginia does not tax:
- Intangible property (financial assets, trademarks, patents)
- Manufacturer's furniture, fixtures or corporate aircraft
- Manufacturer's inventory
- Property at the state level (Virginia localities also do not have separate school district taxes)