Hampton levies a tax on all tangible personal property used in a trade or business (furniture, fixtures, equipment, machinery and tools). A detailed depreciation schedule, including all fully depreciated items or a list of fixed assets itemizing all property in use January 1 must be submitted. All returns must be filed annually, no later than March 1. A business may be liable for business personal property tax, machinery and tools tax, or both. Business Personal Property and Machinery and tools are assessed based on 35% of total original cost. Proration does not apply to either tax. For more information, contact:
Commissioner of the Revenue
P. O. Box 636
Hampton, VA 23669
All personal property tax is billed semi-annually and is due June 5 and December 5.