Personal Property Tax

Radford City Council sets the personal property tax rate annually. Personal property taxes are due each year by December 5th.

What We Assess
The Commissioner of the Revenue’s Office assesses personal property as of January 1st each year. Personal property consists of automobiles, trucks, recreational vehicles, motorcycles, trailers, boats, airplanes, and mobile homes. For businesses located in the City, this includes business furniture, equipment, and machinery and tools used in the manufacturing process.

How We Assess
Values for personal property assessment are based on the clean trade-in value using the National Automobile Dealers Association (NADA) price guide or a percentage of the original cost only if NADA value is not available.

The property’s assessed value on the tax day, January 1st, will be used as a basis for the property tax. The City of Radford is a non-prorating locality. According to Virginia Code 58.1-3511, all motor vehicles housed/garaged in Radford City according to Department of Motor Vehicles records on the tax day are subject to taxation.

Radford City Council enacted Ordinance No. 1579 which created a $25 motor vehicle license fee on all passenger cars, trucks, motorcycles, campers, and trailers weighing 10,000 pounds or more. This license fee replaces the decal fee which was previously due on May 1st of each year.

Business Personal Property
All businesses located in the City of Radford must file a Business Personal Property Form each year by May 1st. The form must list all furniture, fixtures, equipment, and machinery and tools used in the business and owned as of January 1st. A detail summary that lists the costs and tools must accompany the form. Companies that are not located in the City of Radford who lease furniture, fixtures, equipment, and machinery and tools to Radford businesses are also required to file a form on those leases by May 1st.