Show All Answers

1. Who sets the personal property tax rate?

Radford City Council sets the personal property rate for the City.

2. How is the assessment determined on my vehicle?

Radford City uses N.A.D.A. trade-in value as their assessment basis. All vehicles are assessed on the January 1st value listed by N.A.D.A.

3. What if I sell or trade my vehicle or move from Radford during the year?

Radford City is not a pro-rating locality. All assessments are based on January 1st and are assessed for the entire year. If you move to a pro-rating locality they must adjust any assessment they make based on a full year assessment by Radford City.

4. When is personal property tax due?

Personal property tax is due on December 5th.

5. Who must file 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 on January 1st. A detail summary that lists the cost and date of purchase of the business furniture, fixtures, equipment and machinery and tools must accompany the form.

Radford City does not assess merchants capital. Companies that are not located in the City of Radford but 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.

6. Who sets the real estate rate for the City of Radford?

Radford City Council sets the real estate tax rate for the City.

7. When are real estate taxes due?

Real estate taxes are due in 2 installments. The 1st installment is due on June 5th and the 2nd installment is due on December 5th.

8. How often does the City of Radford have a reassessment?

The City of Radford has a reassessment every 4 years. All properties are assessed at 100% fair market value in the reassessment year. The City hires an independent firm to do the reassessment.