The Constitution of Virginia established the Commissioner of the Revenue, and is elected every 4 years to serve as the chief assessing officer of a locality. Registering Personal Property Personal property includes cars, trucks, motorcycles, trailers and boats.
Businesses also pay tax on other personal property besides their vehicles.
According to Virginia Code, personal property when assessed for taxation, must be assessed at fair market value. Every year using pricing guides like N.A.D.A. and tables based on purchase prices the Commissioner will assess over 150,000 items. There are approximately 7000 businesses in Hampton that this office currently taxes. Administering Public Service Corporation Taxes Public service corporations include power companies, phone companies and railroads. These taxes are assessed and billed every 6 months.