Virginia Code 58.1-3523: Definitions
As used in this chapter:
Terms Used In Virginia Code 58.1-3523
- City: means an independent incorporated community which became a city as provided by law before noon on July 1, 1971, or which has within defined boundaries a population of 5,000 or more and which has become a city as provided by law. See Virginia Code 1-208
- Commissioner of the revenue: means the same as that set forth in § 58. See Virginia Code 58.1-3523
- Contract: A legal written agreement that becomes binding when signed.
- Department: means the Department of Motor Vehicles. See Virginia Code 58.1-3523
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Leased: means leased by a natural person as lessee and used for nonbusiness purposes. See Virginia Code 58.1-3523
- Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
- Personal property: All property that is not real property.
- Privately owned: means owned by a natural person and used for nonbusiness purposes. See Virginia Code 58.1-3523
- Qualifying vehicle: means any passenger car, motorcycle, autocycle, and pickup or panel truck, as those terms are defined in § 46. See Virginia Code 58.1-3523
- Tangible personal property tax: means the tax levied pursuant to Article 1 (§ 58. See Virginia Code 58.1-3523
- Taxpayer: includes every person, corporation, partnership, organization, trust or estate subject to taxation under the laws of this Commonwealth, or under the ordinances, resolutions or orders of any county, city, town or other political subdivision of this Commonwealth. See Virginia Code 58.1-1
- Town: means any existing town or an incorporated community within one or more counties which became a town before noon, July 1, 1971, as provided by law or which has within defined boundaries a population of 1,000 or more and which has become a town as provided by law. See Virginia Code 1-254
- Treasurer: means the same as that set forth in § 58. See Virginia Code 58.1-3523
- Used for nonbusiness purposes: means the preponderance of use is for other than business purposes. See Virginia Code 58.1-3523
“Commissioner of the revenue” means the same as that set forth in § 58.1-3100. For purposes of this chapter, in a county or city which does not have an elected commissioner of the revenue, “commissioner of the revenue” means the officer who is primarily responsible for assessing motor vehicles for the purposes of tangible personal property taxation.
“Department” means the Department of Motor Vehicles.
“Effective tax rate” means the tax rate imposed by a locality on tangible personal property multiplied by any assessment ratio in effect.
“Leased” means leased by a natural person as lessee and used for nonbusiness purposes.
“Privately owned” means owned by a natural person and used for nonbusiness purposes.
“Qualifying vehicle” means any passenger car, motorcycle, autocycle, and pickup or panel truck, as those terms are defined in § 46.2-100, that is determined by the commissioner of the revenue of the county or city in which the vehicle has situs as provided by § 58.1-3511 to be (i) privately owned; (ii) leased pursuant to a contract requiring the lessee to pay the tangible personal property tax on such vehicle; or (iii) held in a private trust for nonbusiness purposes. In determining whether a vehicle is a qualifying vehicle, the commissioner of revenue must rely on the registration of such vehicle with the Department pursuant to Chapter 6 of Title 46.2 or, for leased vehicles, the information of the Department pursuant to subsections B and C of § 46.2-623, unless the commissioner of the revenue has information that the Department’s information is incorrect, or to the extent that the Department’s information is incomplete. For purposes of this chapter, all-terrain vehicles and off-road motorcycles titled with the Department of Motor Vehicles and mopeds shall not be deemed qualifying vehicles.
“Tangible personal property tax” means the tax levied pursuant to Article 1 (§ 58.1-3500 et seq.) of Chapter 35 of Title 58.1.
“Tax year” means the 12-month period beginning in the calendar year for which tangible personal property taxes are imposed.
“Treasurer” means the same as that set forth in § 58.1-3123, when used herein with respect to a county or city. When used herein with respect to a town, “treasurer” means the officer who is primarily responsible for the billing and collection of tangible personal property taxes levied upon motor vehicles by such town, and means the treasurer of the county or counties in which such town is located if such functions are performed for the town by the county treasurer or treasurers.
“Used for nonbusiness purposes” means the preponderance of use is for other than business purposes. The preponderance of use for other than business purposes shall be deemed not to be satisfied if: (i) the motor vehicle is expensed on the taxpayer‘s federal income tax return pursuant to Internal Revenue Code § 179; (ii) more than 50 percent of the basis for depreciation of the motor vehicle is depreciated for federal income tax purposes; or (iii) the allowable expense of total annual mileage in excess of 50 percent is deductible for federal income tax purposes or reimbursed pursuant to an arrangement between an employer and employee.
“Value” means the fair market value determined by the method prescribed in § 58.1-3503 and used by the locality in valuing the qualifying vehicle.
1998, Sp. Sess. I, c. 2; 1999, c. 189; 2004, Sp. Sess. I, c. 1; 2006, c. 896; 2007, cc. 314, 815; 2010, c. 499; 2013, c. 783; 2015, cc. 96, 152.