With only one local taxing authority in each community, Hampton Roads has one of the lowest combined state and local tax rates in the nation. The 6 percent corporate income tax rate has not been raised since 1972. There is no local income tax, unitary tax, property tax on state level, local license tax on headquarters and regional offices, intangible property tax or inventory tax.

With a real estate tax of only .6975 cents per $100 valuation and no utility tax, the county is an inexpensive place to do business.

York County Tax Rates
Real Estate	Business Personal Property	Machinery & Tools (manufacturers only)		Utilities
Nominal tax rate per $100 of assessed value	Nominal rate per $100 of assessed value	Nominal tax rate per $100 of assessed value	Assessed value	Commercial rates per month
$0.6975	$4.00	$4.00	25% of original cost	N/A

Business License Fee Rates in York County
Retailer	Wholesaler / Distributor	Professional Services
$0.20 per $100 of gross receipts	$0.05 per $100 on gross purchases	$0.58 per $100 of gross receipts

For more information on York County business taxes visit: https://www.countyofyorkva.org/revenue/businesstax.htm

State Corporate Income Tax

Virginia Corporate Income Tax is 6%. It has remained stable since 1972 and has changed only once in the last 50 years. Virginia also offers corporate income tax credits for job creation.

Zero Tax on Intangible Property

The Virginia General Assembly exempted intangible personal property from taxation in 1984 by making the tax rate zero. Intangible personal property includes stocks, bonds, money, accounts receivable, merchandise within a Virginia foreign trade zone, inventory, computer application software, and tangible personal property used in manufacturing (with the exceptions of the manufacture of machinery and tools, motor vehicles, delivery equipment, trunk and feeder cables, studio equipment, and office furniture and equipment).

If a manufacturer's headquarters, regional offices, or research and development facilities are located in Virginia , its office furniture, fixtures, and aircraft are intangible property and are exempt from taxation.

Virginia Personal Income Tax

Virginia imposes a personal income tax based on federal adjusted gross income with modifications, if applicable, and with deductions for personal exemptions and standard or itemized deductions. Taxable income is taxed at the following rates for 2000:

2% on the first $3,000
3% on the next $2,000
5% on the next $12,000
5.75%+$720 over $17,000

For more information go to: www.tax.state.va.us

Real Estate Tax

Real estate is taxed at the local level based on 100 percent of fair market value. Effective true tax rates on real estate vary and are set by locality. In 2006, the average effective rate for all counties and cities in the state, exclusive of town levies, was $0.72 per $100 of fair market value. York County 's real estate tax is .6975 per$100 of fair market value.

Personal Property Tax

Tangible personal property is taxed at the local level and is based on a percentage(s) of original cost. Tangible personal property includes, but is not limited to, machinery and equipment, furniture, fixtures, and trucks and automobiles. Many exemptions or partial exemptions apply and are decided at the county or city level. These include certified pollution control facilities and equipment, solar energy facilities and equipment, and recycling equipment.

Taxable Sales

Taxable retail sales in York County have skyrocketed during the 1990s, a trend which has continued through 2004, nearly doubling from $449 million in 1998 to $871 million in 2004.

Retail sectors that have experienced significant growth in sales in the County include the General Merchandise Group (particularly department and discount stores) and the Food Group. The construction and tourism industries also have performed well, with large sales increases in the Lumber, Building Materials, and Supply Group and in Hotels, Motels, and Tourist Camps.

Taxable Sales, Selected Jurisdictions, 1989-1996 (Millions of Dollars)   1991 1992 1993 1994 1995 1996 1997 1998 Change Jurisdiction Millions Percent Hampton 926 1,000 977 1,010 998 1,008 1,095 1,629 703 75.9% James City Cou nty 385 368 382 407 450 502 534 698 313 81.3% Newport News 862 977 1,042 1,047 1,134 1,170 1,245 1,488 626 72.6% Poquoson 25 25 26 25 26 28 28 33 9 35.9% Williamsburg 253 263 305 325 331 294 318 383 129 51.1% York County 225 242 284 325 343 362 393 449 224 99.9% Peninsula 2,675 2,873 3,015 3,138 3,282 3,363 3,614 4,680 2,005 74.9% Norfolk MSA 8,619 9,019 9,688 10,192 10,713 10,997 11,663 13,232 4,613 53.5% Virginia 41,214 42,905 46,706 49,728 52,087 53,923 57,048 64,185 22,971 55.7% Source: Virginia Department of Taxation

To view sales tax information specific to York County Virginia Click Here .