Business Property Information
Business Personal Property Information
The Commissioner of the Revenue is responsible for the assessment of tangible personal property owned by businesses. Business tangible personal property includes, but is not limited to office equipment, computer equipment, fixtures, furniture, merchant's capital, and machinery and tools.
Business personal property is assessed on a declining scale based on the cost and year of acquisition. Machinery and tools are assessed at 10% of their original cost.
A tax return is required to be filed on an annual basis by May 1 for all business tangible personal property owned as of January 1. Any returns filed after May 1 will be subject to a late filing fee of $10.00 or 5% of the tax due, whichever is greater. Taxes are due annually on February 5 and are paid to the Treasurer's Office. Questions regarding payments should be directed to the Treasurer at (804) 365-6050.
The business personal property tax rate is $3.57 per $100 assessed. The merchant's capital tax rate is $1.90 per $100 assessed.
For more information on business personal property, please contact the office at (804) 365-3105.
Business License Information
All businesses operating in Hanover County must register with the Commissioner's Office. The
business registration formis available for download on the Applications page. Only certain types of businesses are required to purchase a business license.
License taxes are assessed on selected categories of businesses operating in Hanover County. Licenses must be renewed annually on or before March 1 unless stated otherwise. A new business requiring a license must obtain the license prior to conducting any business in the county. The following businesses require a license in order to operate in Hanover County:
New for 2010! An online filing options is available for the filing and payment of Contractor's Licenses effective January 1, 2010. The option is available through the Online Services link on the Hanover County web page or by clicking here.
Please contact the office with any questions - (804) 365-6129.
Contractors, Electric Contractors, Plumbers and Steam Fitters
Every contractor, electric contractor, plumber and steam fitter who has gross receipts in excess of $100,000 and who meets the following requirements shall apply for a license for each business operating in the county.
- If the person has a definite place of business in the county
- If there is no definite place of business anywhere and the person resides in the county
- If there is no definite place of business in the county but the person is a contractor subject to Virginia State Code 58.1-3715
If you are based and licensed in another locality, you may be exempt from obtaining a license until the gross receipts of your business, generated within Hanover County, reach $25,000. If the gross receipts exceed $25,000, then an application must be filed.
If you are not State Registered as a Class A, B or C Contractor, you must sign an affidavit stating that the Commissioner's Office has informed you that you must be state registered if you undertake or bid any job of $1,000 or more.
A license tax based on prior year gross receipts is applied when the receipt total is above $100,000. The tax rate is $0.10 per $100 of receipt total. To calculate the tax, multiply the gross receipt total by 0.001 ($100,000 X 0.001 = $100).