Show/Hide
 

Tax Note


Questions???

Still can't find what you are looking for? Feel free to visit our Frequently Asked Questions 

 Or reach us by:
Phone: (540)-586-7621
Fax: (540)-586-6943

Email 

Explore

Commissioner of the Revenue
122 East Main Street, Suite 103
Bedford, VA 24523
Phone: (540)-586-7621
Fax: (540)-586-6943


Real Estate Only Inquiries:

(540) 586-7626 

Email

KEY ELEMENTS OF THE PERSONAL PROPERTY TAX RELIEF ACT

The tax on the first $20,000 of value of your personal car, motorcycle, and pickup or panel truck under 7,501 pounds, which is a qualifying vehicle, is reduced by 55%. The locality receives reimbursement from the Commonwealth of Virginia for the tax amount relieved.  For qualifying vehicles valued at $1,000 or less, the full amount of tax is relieved.

Qualifying vehicles are those, which are:

1. Automobiles, motorcycles and pickup trucks with gross weight 7500 pounds or less; and 
2. Owned or leased by natural persons who are responsible for the payment of the personal property tax; and
3. Predominantly used for non-business purposes.

Non-qualifying vehicles are those, which are:

1. Any other vehicle not listed above and trucks with gross weight greater than 7500 pounds; or
2. Owned or leased in the name of a business; or
3. Used in a business and matching ANY of the following items:
a. More than 50% of the mileage for the year is for business purposes and is deducted for Federal Income Tax purposes or reimbursed by an employer; or
b. More than 50% of the depreciation associated with the vehicle is deducted as a business expense; or
c. The cost of the vehicle is expensed pursuant to #179 of the IRS Code (which by definition requires 50% or greater business use); or
d. The vehicle is leased by a natural person and used for non-business purposes but the lessor pays the personal property taxes through a contractual agreement.

PERSONAL PROPERTY TAXATION, VEHICLE REGISTRATION & PRORATION

All motor vehicles (including cars, trucks, trailers, motor homes, motorcycles), boats, airplanes and mobile homes normally garaged, docked or parked in Bedford County are subject to tangible personal property taxation. Within 10 days of purchasing a motor vehicle or moving into Bedford County, all residents are required to register with the Commissioner's office. DMV registrations are essential and notification must also be given when a vehicle is sold or moved from the county. Proration is determined by these dates. NADA is the recognized pricing guide used to determine values.


PERSONAL PROPERTY, MACHINERY & TOOLS, MERCHANT'S CAPITAL

-Equipment owned on Jan. 1 and used in a trade or business is subject to property taxation. Machinery & Tools is equipment used by a manufacturer in the production of goods. All classifications are assessed at 100% of original depreciated cost and a complete asset schedule, showing original cost and date purchased is necessary to receive depreciation. The deadline for filing is May 1.

The Commissioner of the Revenue, located in the County Administration Building in midtown Bedford, is an elected Constitutional Official chosen by the voters of Bedford County and serves a four-year term in office. The Commissioner is the Chief Assessing Officer of local government.

Our mission is to serve the residents of Bedford County by offering tax services that are fair and equitable. Our local tax programs are administered to educate and assist the public in community tax assessment and involvement.

Julie Creasy is the Commissioner of the Revenue


Tax rates for current fiscal year

(begins July 1, 2017)

All assessments based on 100% of value

TYPE
EFFECTIVE RATE
IMPORTANT
DATES

Personal Property
Includes cars, boats, trailers, aircraft, business equipment, etc.

Business Furniture, Fixtures
& Equipment

$2.35 per $100 value (vehicles)

 

$1.70 per $100 value

Due
December 5

Real Estate $0.52 per $100
assessed value
First Half Payment
Due June 5
Second Half Payment
Due
December 5
Merchant's Capital
Retail and wholesale inventory
$0.22 per $100 value
Due
December 5
Machinery and Tools
Manufacturers only
$1.20 per $100 value
Due
December 5
Motor Vehicle Decals No longer issued --
Consumer Utility:
Electricity
(Residential)
10% of first $15
Included in
monthly bill
Consumer Utility:
Electricity
(Commercial/industrial)
10% of first $250 Included in
monthly bill
Consumer Utility:
Telephone
(Residential)
10% of first $10 Included in
monthly bill
Consumer Utility:
Natural Gas
(Residential)
10% of first $15
Included in
monthly bill
Consumer Utility:
Natural Gas
(Commercial/industrial)
10% of first $250
Included in
monthly bill

TAX RELIEF FOR THE ELDERLY

Persons 65 or older or permanently & totally disabled with annual household income under $37,500 and net worth less than $100,000 may be eligible for partial exemption of real estate taxes on their primary dwelling parcel. Annual application is required between January 2 through February 28.


STATE INCOME TAX

The Commissioner of the Revenue is linked with the Department of Taxation to allow direct entry of returns into the system. Locally filed returns are carefully screened for accuracy and keyed the same day for quick refunds. ( delete - Those with label changes may expect refund in 4-6 weeks.) The Commissioner's office provides assistance in the filing of Va. Individual Income Tax returns.