It is essential that business people and their professional advisors understand the Virginia property tax system as well as planning opportunities and protest rights that may be available to minimize exposure to property tax.
This seminar will feature experienced professionals who will address current issues and trends and explain the fundamentals of Virginia property tax law.
- Overview of property taxation
- Special issues in taxation of business personal property
- Other legislative and legal issues regarding assessment, valuation and property tax
- The BPOL tax - local taxation of business gross receipts
- The role of the courts in the local tax process
- The attendee will be able to discuss property taxation issues in Virginia.
- The attendee will be able to identify special issues in taxation of business personal property.
- The attendee will be able to review legislative and legal issues regarding assessment, valuation and property taxes.
8:30 a.m. - 9:15 a.m.
I. Overview Of Property Taxation
A. Business Personal Property
B. Classification Of Property
C. Manufacturer's Exclusion From Personal Property Tax
D. Real Property
9:15 a.m. - 10:15 a.m.
II. Assessment Of Business
A. Real Property
B. Personal Property
D. Machinery And Tools – After Daily Press
E. Rolling Stock
10:15 a.m. - 10:25 a.m.
10:25 a.m. - 10:45 a.m.
III. Administrative Appeals Of An
Assessment At The Local Level
B. Who Can Appeal
C. Requirements For Filing Appeals
D. Practice And Procedure
10:45 a.m. - 11:15 a.m.
IV. Special Issues In Taxation Of
Business Personal Property
A. Leased Equipment
B. Corporate Structures
C. Retail Equipment
11:15 a.m. - 12:15 p.m.
V. Real Estate
12:15 p.m. - 1:15 p.m.
Lunch (On Your Own)
1:15 p.m. - 1:45 p.m.
VI. Other Legislative And Legal
Issues Regarding Assessment,
Valuation And Property Taxes
A. Uniform Assessment
B. Classification Issues
C. Proposed Reforms
D. Virginia Department Of Taxation's Role In Local Property Taxation
1:45 p.m. - 2:00 p.m.
A. Charitable, Religious And Education
C. Procedures For Attempting To Obtain An Exemption
D. Recent Developments
2:00 p.m. - 4:00 p.m.
(Break 2:30 p.m. - 2:40 p.m.)
VIII. The BPOL Tax-Local Taxation Of
Business Gross Receipts
A. A Brief History Of The BPOL Tax
B. Exemptions From The BPOL Tax
C. Exclusions From Gross Receipts
D. Deductions From Gross Receipts
E. Situs Of Gross Receipts
G. Classification Issues
H. Compliance Issues
I. Local Administrative Review
J. Appeals To The Virginia Tax Commissioner
K. Virginia Commissioner's Advisory And Interpretative Powers
4:00 p.m. - 4:30 p.m.
IX. The Role Of The Courts In The
Virginia Local Tax Process
A. Judicial Review By The Circuit Courts
B. Efforts To Challenge An Assessment By Directly Filing And Action With A Circuit Court
C. Authority Of The Courts
E. Burdens And Benefits Of Tax Litigation