Tax on business tangible property (except vehicles) is not prorated. If the property is not in the county on January 1, then no taxes are owed for that year.The Code of Virginia requires all business owners, including home based businesses, to annually report business tangible property for taxation. The Code of Virginia requires all business owners, including home-based businesses, to annually report business tangible personal property for taxation. A business is a marital asset. In Virginia, all property acquired during the marriage is subject to equitable distribution and may be divided in divorce. â–« Enter the name of the business that you own, OR. â–« Enter your name if you are self-employed and do not operate under a business name. Phone. Business Property owned, leased, or made available for an entity to conduct business is taxed as of January 1 of each year. If your business is located on base or other federal property, please use the address 9000 Hampton Boulevard when filling out your application.
