Specialty Taxes

Bank Franchise

The State Tax Department controls the Bank Franchise Tax. The localities are responsible for checking certain items on the returns filed by the banks headquartered in Chesterfield County. In addition, the localities are responsible for billing the banks for its portion of the total tax for all banks, which have branches in the particular locality and or are headquartered in the locality.

Consumer Utilities

A tax is imposed on consumers of telephone, electric, and gas utility services. Taxes are collected and remitted by the last day of the month following the month of collection (electric and gas service) or billing (telephone service).

Consumption

A tax is imposed on consumers of electricity and natural gas based on consumption. Of this tax a portion is designated as local consumption tax. These taxes are collected and remitted by the last day of each month following the month of collection.

Public Service Company Property

A tax levy based on that portion of real estate and tangible personal property of public service corporations where the assessed values are determined by the State Corporation Commission. The PSC property is taxed at the current real estate rate per Section 58.1-2606(A). On automobiles and trucks belonging to such public service corporations the tax shall be $3.60 on every $100 of assessed value.