{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-3503.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-3503.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-3503.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-3503.html"}],"law_id":62278,"edition_id":1,"section_id":62278,"structure_id":15503,"section_number":"58.1-3503","catch_line":"General classification of tangible personal property","history":"Code 1950, \u00a7\u00a7 58-829, 58-829.3, 58-829.5; 1960, c. 418; 1970, cc. 325, 655; 1974, c. 445; 1975, cc. 47, 541; 1976, c. 567; 1978, cc. 155, 178, 656, 843; 1979, c. 576; 1980, c. 412; 1981, c. 236; 1982, c. 633; 1984, cc. 675, 689; 1985, c. 105; 1987, c. 568; 1991, cc. 253, 255; 1994, c. 827; 1996, c. 529; 1997, cc. 192, 250, 433, 457; 2006, c. 896; 2013, cc. 287, 652, 783; 2018, cc. 28, 292; 2022, c. 655; 2023, cc. 148, 149.","full_text":"A\n\nTangible personal property is classified for valuation purposes according to the following separate categories which are not to be considered separate classes for rate purposes:1\n\nFarm animals, except as exempted under § 58.1-3505.2\n\nFarm machinery, except as exempted under § 58.1-3505.3\n\nAutomobiles, except those described in subdivisions 7, 8, and 9 of this subsection and in subdivision A 8 of § 58.1-3504, which shall be valued by means of a recognized pricing guide or if the model and year of the individual automobile are not listed in the recognized pricing guide, the individual vehicle may be valued on the basis of percentage or percentages of original cost. In using a recognized pricing guide, the commissioner shall use either of the following two methods. The commissioner may use all applicable adjustments in such guide to determine the value of each individual automobile, or alternatively, if the commissioner does not utilize all applicable adjustments in valuing each automobile, he shall use the base value specified in such guide which may be either average retail, wholesale, or loan value, so long as uniformly applied within classifications of property. If the model and year of the individual automobile are not listed in the recognized pricing guide, the taxpayer may present to the commissioner proof of the original cost, and the basis of the tax for purposes of the motor vehicle sales and use tax as described in § 58.1-2405 shall constitute proof of original cost. If such percentage or percentages of original cost do not accurately reflect fair market value, or if the taxpayer does not supply proof of original cost, then the commissioner may select another method which establishes fair market value.4\n\nTrucks of less than two tons, which may be valued by means of a recognized pricing guide or, if the model and year of the individual truck are not listed in the recognized pricing guide, on the basis of a percentage or percentages of original cost.5\n\nTrucks and other vehicles, as defined in § 46.2-100, except those described in subdivisions 4, and 6 through 10 of this subsection, which shall be valued by means of either a recognized pricing guide using the lowest value specified in such guide or a percentage or percentages of original cost.6\n\nManufactured homes, as defined in § 36-85.3, which may be valued on the basis of square footage of living space.7\n\nAntique motor vehicles, as defined in § 46.2-100, which may be used for general transportation purposes as provided in subsection D of § 46.2-730.8\n\nTaxicabs.9\n\nMotor vehicles with specially designed equipment for use by individuals with disabilities, which shall not be valued in relation to their initial cost, but by determining their actual market value if offered for sale on the open market.10\n\nMotorcycles, mopeds, all-terrain vehicles, and off-road motorcycles as defined in § 46.2-100, campers and other recreational vehicles, which shall be valued by means of a recognized pricing guide or a percentage or percentages of original cost.11\n\nBoats weighing under five tons and boat trailers, which shall be valued by means of a recognized pricing guide or a percentage or percentages of original cost.12\n\nBoats or watercraft weighing five tons or more, which shall be valued by means of a percentage or percentages of original cost.13\n\nAircraft, which shall be valued by means of a recognized pricing guide or a percentage or percentages of original cost.14\n\nHousehold goods and personal effects, except as exempted under § 58.1-3504.15\n\nTangible personal property used in a research and development business, which shall be valued by means of a percentage or percentages of original cost.16\n\nProgrammable computer equipment and peripherals used in business which shall be valued by means of a percentage or percentages of original cost to the taxpayer, or by such other method as may reasonably be expected to determine the actual fair market value.17\n\nComputer equipment and peripherals used in a data center, as defined in subdivision A 43 of § 58.1-3506, which shall be valued by means of a percentage or percentages of original cost, or by such other method as may reasonably be expected to determine the actual fair market value.18\n\nAll tangible personal property employed in a trade or business other than that described in subdivisions 1 through 17, which shall be valued by means of a percentage or percentages of original cost.19\n\nOutdoor advertising signs regulated under Article 1 (§ 33.2-1200 et seq.) of Chapter 12 of Title 33.2.20\n\nAll other tangible personal property.B\n\nMethods of valuing property may differ among the separate categories, so long as each method used is uniform within each category, is consistent with requirements of this section and may reasonably be expected to determine actual fair market value as determined by the commissioner of revenue or other assessing official; however, assessment ratios shall only be used with the concurrence of the local governing body. A commissioner of revenue shall upon request take into account the condition of the property. The term “condition of the property” includes, but is not limited to, technological obsolescence of property where technological obsolescence is an appropriate factor for valuing such property. The commissioner of revenue shall make available to taxpayers on request a reasonable description of his valuation methods. Such commissioner, or other assessing officer, or his authorized agent, when using a recognized pricing guide as provided for in this section, may automatically extend the assessment if the pricing information is stored in a computer. For any locality in which the commissioner of revenue or other assessing official adjusts the valuation of property described in subdivision A 3 to account for the amount of mileage on such vehicles, such adjustment shall also be provided to motorcycles described in subdivision A 10.","order_by":null,"text":{"0":{"id":227145,"text":"Tangible personal property is classified for valuation purposes according to the following separate categories which are not to be considered separate classes for rate purposes:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":227146,"text":"Farm animals, except as exempted under § 58.1-3505.","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":227147,"text":"Farm machinery, except as exempted under § 58.1-3505.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":227148,"text":"Automobiles, except those described in subdivisions 7, 8, and 9 of this subsection and in subdivision A 8 of § 58.1-3504, which shall be valued by means of a recognized pricing guide or if the model and year of the individual automobile are not listed in the recognized pricing guide, the individual vehicle may be valued on the basis of percentage or percentages of original cost. In using a recognized pricing guide, the commissioner shall use either of the following two methods. The commissioner may use all applicable adjustments in such guide to determine the value of each individual automobile, or alternatively, if the commissioner does not utilize all applicable adjustments in valuing each automobile, he shall use the base value specified in such guide which may be either average retail, wholesale, or loan value, so long as uniformly applied within classifications of property. If the model and year of the individual automobile are not listed in the recognized pricing guide, the taxpayer may present to the commissioner proof of the original cost, and the basis of the tax for purposes of the motor vehicle sales and use tax as described in § 58.1-2405 shall constitute proof of original cost. If such percentage or percentages of original cost do not accurately reflect fair market value, or if the taxpayer does not supply proof of original cost, then the commissioner may select another method which establishes fair market value.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":227149,"text":"Trucks of less than two tons, which may be valued by means of a recognized pricing guide or, if the model and year of the individual truck are not listed in the recognized pricing guide, on the basis of a percentage or percentages of original cost.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":227150,"text":"Trucks and other vehicles, as defined in § 46.2-100, except those described in subdivisions 4, and 6 through 10 of this subsection, which shall be valued by means of either a recognized pricing guide using the lowest value specified in such guide or a percentage or percentages of original cost.","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":227151,"text":"Manufactured homes, as defined in § 36-85.3, which may be valued on the basis of square footage of living space.","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":227152,"text":"Antique motor vehicles, as defined in § 46.2-100, which may be used for general transportation purposes as provided in subsection D of § 46.2-730.","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"A8"},"8":{"id":227153,"text":"Taxicabs.","type":"section","prefixes":["A","8"],"prefix":"8","entire_prefix":"A8","prefix_anchor":"A8","level":2,"prior_prefix":"A7","next_prefix":"A9"},"9":{"id":227154,"text":"Motor vehicles with specially designed equipment for use by individuals with disabilities, which shall not be valued in relation to their initial cost, but by determining their actual market value if offered for sale on the open market.","type":"section","prefixes":["A","9"],"prefix":"9","entire_prefix":"A9","prefix_anchor":"A9","level":2,"prior_prefix":"A8","next_prefix":"A10"},"10":{"id":227155,"text":"Motorcycles, mopeds, all-terrain vehicles, and off-road motorcycles as defined in § 46.2-100, campers and other recreational vehicles, which shall be valued by means of a recognized pricing guide or a percentage or percentages of original cost.","type":"section","prefixes":["A","10"],"prefix":"10","entire_prefix":"A10","prefix_anchor":"A10","level":2,"prior_prefix":"A9","next_prefix":"A11"},"11":{"id":227156,"text":"Boats weighing under five tons and boat trailers, which shall be valued by means of a recognized pricing guide or a percentage or percentages of original cost.","type":"section","prefixes":["A","11"],"prefix":"11","entire_prefix":"A11","prefix_anchor":"A11","level":2,"prior_prefix":"A10","next_prefix":"A12"},"12":{"id":227157,"text":"Boats or watercraft weighing five tons or more, which shall be valued by means of a percentage or percentages of original cost.","type":"section","prefixes":["A","12"],"prefix":"12","entire_prefix":"A12","prefix_anchor":"A12","level":2,"prior_prefix":"A11","next_prefix":"A13"},"13":{"id":227158,"text":"Aircraft, which shall be valued by means of a recognized pricing guide or a percentage or percentages of original cost.","type":"section","prefixes":["A","13"],"prefix":"13","entire_prefix":"A13","prefix_anchor":"A13","level":2,"prior_prefix":"A12","next_prefix":"A14"},"14":{"id":227159,"text":"Household goods and personal effects, except as exempted under § 58.1-3504.","type":"section","prefixes":["A","14"],"prefix":"14","entire_prefix":"A14","prefix_anchor":"A14","level":2,"prior_prefix":"A13","next_prefix":"A15"},"15":{"id":227160,"text":"Tangible personal property used in a research and development business, which shall be valued by means of a percentage or percentages of original cost.","type":"section","prefixes":["A","15"],"prefix":"15","entire_prefix":"A15","prefix_anchor":"A15","level":2,"prior_prefix":"A14","next_prefix":"A16"},"16":{"id":227161,"text":"Programmable computer equipment and peripherals used in business which shall be valued by means of a percentage or percentages of original cost to the taxpayer, or by such other method as may reasonably be expected to determine the actual fair market value.","type":"section","prefixes":["A","16"],"prefix":"16","entire_prefix":"A16","prefix_anchor":"A16","level":2,"prior_prefix":"A15","next_prefix":"A17"},"17":{"id":227162,"text":"Computer equipment and peripherals used in a data center, as defined in subdivision A 43 of § 58.1-3506, which shall be valued by means of a percentage or percentages of original cost, or by such other method as may reasonably be expected to determine the actual fair market value.","type":"section","prefixes":["A","17"],"prefix":"17","entire_prefix":"A17","prefix_anchor":"A17","level":2,"prior_prefix":"A16","next_prefix":"A18"},"18":{"id":227163,"text":"All tangible personal property employed in a trade or business other than that described in subdivisions 1 through 17, which shall be valued by means of a percentage or percentages of original cost.","type":"section","prefixes":["A","18"],"prefix":"18","entire_prefix":"A18","prefix_anchor":"A18","level":2,"prior_prefix":"A17","next_prefix":"A19"},"19":{"id":227164,"text":"Outdoor advertising signs regulated under Article 1 (§ 33.2-1200 et seq.) of Chapter 12 of Title 33.2.","type":"section","prefixes":["A","19"],"prefix":"19","entire_prefix":"A19","prefix_anchor":"A19","level":2,"prior_prefix":"A18","next_prefix":"A20"},"20":{"id":227165,"text":"All other tangible personal property.","type":"section","prefixes":["A","20"],"prefix":"20","entire_prefix":"A20","prefix_anchor":"A20","level":2,"prior_prefix":"A19","next_prefix":"B"},"21":{"id":227166,"text":"Methods of valuing property may differ among the separate categories, so long as each method used is uniform within each category, is consistent with requirements of this section and may reasonably be expected to determine actual fair market value as determined by the commissioner of revenue or other assessing official; however, assessment ratios shall only be used with the concurrence of the local governing body. A commissioner of revenue shall upon request take into account the condition of the property. The term “condition of the property” includes, but is not limited to, technological obsolescence of property where technological obsolescence is an appropriate factor for valuing such property. The commissioner of revenue shall make available to taxpayers on request a reasonable description of his valuation methods. Such commissioner, or other assessing officer, or his authorized agent, when using a recognized pricing guide as provided for in this section, may automatically extend the assessment if the pricing information is stored in a computer. For any locality in which the commissioner of revenue or other assessing official adjusts the valuation of property described in subdivision A 3 to account for the amount of mileage on such vehicles, such adjustment shall also be provided to motorcycles described in subdivision A 10.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A20"}},"ancestry":[{"id":15503,"edition_id":1,"name":"Tangible Personal Property Tax","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":14766,"metadata":{},"date_created":"2026-06-26 03:55:36","date_modified":"2026-06-26 03:55:36","permalink":{"id":257735,"object_type":"structure","relational_id":15503,"identifier":"1","token":"58.1\/III\/35\/1","url":"\/58.1\/III\/35\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14766,"edition_id":1,"name":"Tangible Personal Property, Machinery and Tools and Merchants' Capital","identifier":"35","label":"chapter","depth":3,"order_by":1,"parent_id":12704,"metadata":{},"date_created":"2026-06-26 03:49:48","date_modified":"2026-06-26 03:49:48","permalink":{"id":257733,"object_type":"structure","relational_id":14766,"identifier":"35","token":"58.1\/III\/35","url":"\/58.1\/III\/35\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12704,"edition_id":1,"name":"Local Taxes","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12703,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":256459,"object_type":"structure","relational_id":12704,"identifier":"III","token":"58.1\/III","url":"\/58.1\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12703,"edition_id":1,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":251959,"object_type":"structure","relational_id":12703,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":80254,"structure_id":15503,"section_number":"58.1-3500","catch_line":"Defined and segregated for local taxation","url":"\/58.1-3500\/","token":"58.1\/III\/35\/1\/58.1-3500","metadata":false},{"id":65170,"structure_id":15503,"section_number":"58.1-3501","catch_line":"Tangible personal property leased to agency of federal, state or local government","url":"\/58.1-3501\/","token":"58.1\/III\/35\/1\/58.1-3501","metadata":false},{"id":59079,"structure_id":15503,"section_number":"58.1-3502","catch_line":"Tangible personal property leased, loaned, or otherwise made available to a private party from agency of federal, state or local government","url":"\/58.1-3502\/","token":"58.1\/III\/35\/1\/58.1-3502","metadata":false},{"id":62278,"structure_id":15503,"section_number":"58.1-3503","catch_line":"General classification of tangible personal property","url":"\/58.1-3503\/","token":"58.1\/III\/35\/1\/58.1-3503","metadata":false},{"id":66164,"structure_id":15503,"section_number":"58.1-3504","catch_line":"Classification of certain household goods and personal effects for taxation; governing body may exempt","url":"\/58.1-3504\/","token":"58.1\/III\/35\/1\/58.1-3504","metadata":false},{"id":79607,"structure_id":15503,"section_number":"58.1-3505","catch_line":"Classification of farm animals, certain grains, agricultural products, farm machinery, farm implements and equipment; governing body may exempt","url":"\/58.1-3505\/","token":"58.1\/III\/35\/1\/58.1-3505","metadata":false},{"id":84228,"structure_id":15503,"section_number":"58.1-3506","catch_line":"Other classifications of tangible personal property for taxation","url":"\/58.1-3506\/","token":"58.1\/III\/35\/1\/58.1-3506","metadata":false}],"previous_section":{"id":59079,"structure_id":15503,"section_number":"58.1-3502","catch_line":"Tangible personal property leased, loaned, or otherwise made available to a private party from agency of federal, state or local government","url":"\/58.1-3502\/","token":"58.1\/III\/35\/1\/58.1-3502","metadata":false},"next_section":{"id":66164,"structure_id":15503,"section_number":"58.1-3504","catch_line":"Classification of certain household goods and personal effects for taxation; governing body may exempt","url":"\/58.1-3504\/","token":"58.1\/III\/35\/1\/58.1-3504","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-3503\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 22 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1960, chapter 418; in 1970, chapters 325 and 655; in 1974, chapter 445; in 1975, chapters 47 and 541; in 1976, chapter 567; in 1978, chapters 155, 178, 656, and 843; in 1979, chapter 576; in 1980, chapter 412; in 1981, chapter 236; in 1982, chapter 633; in 1984, chapters 675 and 689; in 1985, chapter 105; in 1987, chapter 568; in 1991, chapters 253 and 255; in 1994, chapter 827<\/a>; in 1996, chapter 529<\/a>; in 1997, chapters 192<\/a>, 250<\/a>, 433<\/a>, and 457<\/a>; in 2006, chapter 896<\/a>; in 2013, chapters 287<\/a>, 652<\/a>, and 783<\/a>; in 2018, chapters 28<\/a> and 292<\/a>; in 2022, chapter 655<\/a>; in 2023, chapters 148<\/a> and 149<\/a>.<\/p>","references":[{"id":61661,"section_number":"58.1-3210","catch_line":"Exemption or deferral of taxes on property of certain elderly individuals and individuals with disabilities","order_by":null,"url":"\/58.1-3210\/"},{"id":62628,"section_number":"58.1-3219.14","catch_line":"Exemption from taxes on property of surviving spouses of certain persons killed in the line of duty","order_by":null,"url":"\/58.1-3219.14\/"},{"id":79336,"section_number":"58.1-3219.5","catch_line":"Exemption from taxes on property for disabled veterans","order_by":null,"url":"\/58.1-3219.5\/"},{"id":62934,"section_number":"58.1-3219.9","catch_line":"Exemption from taxes on property of surviving spouses of members of the armed forces who died in the line of duty","order_by":null,"url":"\/58.1-3219.9\/"},{"id":63091,"section_number":"58.1-3295.3","catch_line":"Assessment of real property; data centers","order_by":null,"url":"\/58.1-3295.3\/"},{"id":66164,"section_number":"58.1-3504","catch_line":"Classification of certain household goods and personal effects for taxation; governing body may exempt","order_by":null,"url":"\/58.1-3504\/"},{"id":84228,"section_number":"58.1-3506","catch_line":"Other classifications of tangible personal property for taxation","order_by":null,"url":"\/58.1-3506\/"},{"id":75221,"section_number":"58.1-3510.4","catch_line":"Short-term rental property; short-term rental businesses","order_by":null,"url":"\/58.1-3510.4\/"},{"id":58763,"section_number":"58.1-3523","catch_line":"Definitions","order_by":null,"url":"\/58.1-3523\/"},{"id":73325,"section_number":"58.1-3916","catch_line":"Counties, cities, and towns may provide dates for filing returns and set penalties, interest, etc","order_by":null,"url":"\/58.1-3916\/"}],"refers_to":[{"id":68297,"section_number":"33.2-1200","catch_line":"Policy; definitions","order_by":null,"url":"\/33.2-1200\/"},{"id":64678,"section_number":"36-85.3","catch_line":"Definitions","order_by":null,"url":"\/36-85.3\/"},{"id":82691,"section_number":"46.2-100","catch_line":"Definitions","order_by":null,"url":"\/46.2-100\/"},{"id":66929,"section_number":"58.1-2405","catch_line":"Basis of tax","order_by":null,"url":"\/58.1-2405\/"},{"id":66164,"section_number":"58.1-3504","catch_line":"Classification of certain household goods and personal effects for taxation; governing body may exempt","order_by":null,"url":"\/58.1-3504\/"},{"id":84228,"section_number":"58.1-3506","catch_line":"Other classifications of tangible personal property for taxation","order_by":null,"url":"\/58.1-3506\/"}],"permalink":{"id":257749,"object_type":"law","relational_id":62278,"identifier":"58.1-3503","token":"58.1\/III\/35\/1\/58.1-3503","url":"\/58.1-3503\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-3503\/","token":"58.1\/III\/35\/1\/58.1-3503","dublin_core":{"Title":"General classification of tangible personal property","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-3503","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Tangible personal property is classified for valuation purposes according to the following separate categories which are not to be considered separate classes for rate purposes: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Farm animals, except as exempted under § 58.1-3505<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Farm machinery, except as exempted under § 58.1-3505<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Automobiles, except those described in subdivisions 7, 8, and 9 of this subsection and in subdivision A 8 of § 58.1-3504<\/a>, which shall be valued by means of a recognized pricing guide or if the model and year of the individual automobile are not listed in the recognized pricing guide, the individual vehicle may be valued on the basis of percentage or percentages of original cost. In using a recognized pricing guide, the commissioner shall use either of the following two methods. The commissioner may use all applicable adjustments in such guide to determine the value of each individual automobile, or alternatively, if the commissioner does not utilize all applicable adjustments in valuing each automobile, he shall use the base value specified in such guide which may be either average retail, wholesale, or loan value, so long as uniformly applied within classifications of property. If the model and year of the individual automobile are not listed in the recognized pricing guide, the taxpayer<\/span> may present to the commissioner proof of the original cost, and the basis of the tax for purposes of the motor vehicle sales and use tax as described in § 58.1-2405<\/a> shall constitute proof of original cost. If such percentage or percentages of original cost do not accurately reflect fair market value, or if the taxpayer<\/span> does not supply proof of original cost, then the commissioner may select another method which establishes fair market value. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Trucks of less than two tons, which may be valued by means of a recognized pricing guide or, if the model and year of the individual truck are not listed in the recognized pricing guide, on the basis of a percentage or percentages of original cost. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Trucks and other vehicles, as defined in § 46.2-100<\/a>, except those described in subdivisions 4, and 6 through 10 of this subsection, which shall be valued by means of either a recognized pricing guide using the lowest value specified in such guide or a percentage or percentages of original cost. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Manufactured homes, as defined in § 36-85.3<\/a>, which may be valued on the basis of square footage of living space. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Antique motor vehicles, as defined in § 46.2-100<\/a>, which may be used for general transportation purposes as provided in subsection D of § 46.2-730<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Taxicabs. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> Motor vehicles with specially designed equipment for use by individuals with disabilities, which shall not be valued in relation to their initial cost, but by determining their actual market value if offered for sale on the open market. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> Motorcycles, mopeds, all-terrain vehicles, and off-road motorcycles as defined in § 46.2-100<\/a>, campers and other recreational vehicles, which shall be valued by means of a recognized pricing guide or a percentage or percentages of original cost. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

11.<\/span> Boats weighing under five tons and boat trailers, which shall be valued by means of a recognized pricing guide or a percentage or percentages of original cost. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

12.<\/span> Boats or watercraft weighing five tons or more, which shall be valued by means of a percentage or percentages of original cost. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

13.<\/span> Aircraft, which shall be valued by means of a recognized pricing guide or a percentage or percentages of original cost. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

14.<\/span> Household goods and personal effects, except as exempted under § 58.1-3504<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

15.<\/span> Tangible personal property used in a research and development business, which shall be valued by means of a percentage or percentages of original cost. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

16.<\/span> Programmable computer equipment and peripherals used in business which shall be valued by means of a percentage or percentages of original cost to the taxpayer<\/span>, or by such other method as may reasonably be expected to determine the actual fair market value. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

17.<\/span> Computer equipment and peripherals used in a data center, as defined in subdivision A 43 of § 58.1-3506<\/a>, which shall be valued by means of a percentage or percentages of original cost, or by such other method as may reasonably be expected to determine the actual fair market value. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

18.<\/span> All tangible personal property employed in a trade or business other than that described in subdivisions 1 through 17, which shall be valued by means of a percentage or percentages of original cost. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

19.<\/span> Outdoor advertising signs regulated under Article 1 (§ 33.2-1200<\/a> et seq.) of Chapter 12 of Title 33.2. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

20.<\/span> All other tangible personal property. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Methods of valuing property may differ among the separate categories, so long as each method used is uniform within each category, is consistent with requirements of this section and may reasonably be expected to determine actual fair market value as determined by the commissioner of revenue or other assessing official; however, assessment ratios shall only be used with the concurrence of the local governing body. A commissioner of revenue shall upon request take into account the condition of the property. The term “condition of the property” includes, but is not limited to, technological obsolescence of property where technological obsolescence is an appropriate factor for valuing such property. The commissioner of revenue shall make available to taxpayers<\/span> on request a reasonable description of his valuation methods. Such commissioner, or other assessing officer, or his authorized agent, when using a recognized pricing guide as provided for in this section, may automatically extend the assessment if the pricing information is stored in a computer. For any locality in which the commissioner of revenue or other assessing official adjusts the valuation of property described in subdivision A 3 to account for the amount of mileage on such vehicles, such adjustment shall also be provided to motorcycles described in subdivision A 10. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nGENERAL CLASSIFICATION OF TANGIBLE PERSONAL PROPERTY (\u00a7 58.1-3503)\n\nA. Tangible personal property is classified for valuation purposes according to\nthe following separate categories which are not to be considered separate\nclasses for rate purposes:\n\n 1. Farm animals, except as exempted under § 58.1-3505.\n\n 2. Farm machinery, except as exempted under § 58.1-3505.\n\n 3. Automobiles, except those described in subdivisions 7, 8, and 9 of this\n subsection and in subdivision A 8 of § 58.1-3504, which shall be valued\n by means of a recognized pricing guide or if the model and year of the\n individual automobile are not listed in the recognized pricing guide, the\n individual vehicle may be valued on the basis of percentage or percentages of\n original cost. In using a recognized pricing guide, the commissioner shall use\n either of the following two methods. The commissioner may use all applicable\n adjustments in such guide to determine the value of each individual\n automobile, or alternatively, if the commissioner does not utilize all\n applicable adjustments in valuing each automobile, he shall use the base value\n specified in such guide which may be either average retail, wholesale, or loan\n value, so long as uniformly applied within classifications of property. If the\n model and year of the individual automobile are not listed in the recognized\n pricing guide, the taxpayer may present to the commissioner proof of the\n original cost, and the basis of the tax for purposes of the motor vehicle\n sales and use tax as described in § 58.1-2405 shall constitute proof of\n original cost. If such percentage or percentages of original cost do not\n accurately reflect fair market value, or if the taxpayer does not supply proof\n of original cost, then the commissioner may select another method which\n establishes fair market value.\n\n 4. Trucks of less than two tons, which may be valued by means of a recognized\n pricing guide or, if the model and year of the individual truck are not listed\n in the recognized pricing guide, on the basis of a percentage or percentages\n of original cost.\n\n 5. Trucks and other vehicles, as defined in § 46.2-100, except those\n described in subdivisions 4, and 6 through 10 of this subsection, which shall\n be valued by means of either a recognized pricing guide using the lowest value\n specified in such guide or a percentage or percentages of original cost.\n\n 6. Manufactured homes, as defined in § 36-85.3, which may be valued on\n the basis of square footage of living space.\n\n 7. Antique motor vehicles, as defined in § 46.2-100, which may be used\n for general transportation purposes as provided in subsection D of §\n 46.2-730.\n\n 8. Taxicabs.\n\n 9. Motor vehicles with specially designed equipment for use by individuals\n with disabilities, which shall not be valued in relation to their initial\n cost, but by determining their actual market value if offered for sale on the\n open market.\n\n 10. Motorcycles, mopeds, all-terrain vehicles, and off-road motorcycles as\n defined in § 46.2-100, campers and other recreational vehicles, which\n shall be valued by means of a recognized pricing guide or a percentage or\n percentages of original cost.\n\n 11. Boats weighing under five tons and boat trailers, which shall be valued by\n means of a recognized pricing guide or a percentage or percentages of original\n cost.\n\n 12. Boats or watercraft weighing five tons or more, which shall be valued by\n means of a percentage or percentages of original cost.\n\n 13. Aircraft, which shall be valued by means of a recognized pricing guide or\n a percentage or percentages of original cost.\n\n 14. Household goods and personal effects, except as exempted under §\n 58.1-3504.\n\n 15. Tangible personal property used in a research and development business,\n which shall be valued by means of a percentage or percentages of original\n cost.\n\n 16. Programmable computer equipment and peripherals used in business which\n shall be valued by means of a percentage or percentages of original cost to\n the taxpayer, or by such other method as may reasonably be expected to\n determine the actual fair market value.\n\n 17. Computer equipment and peripherals used in a data center, as defined in\n subdivision A 43 of § 58.1-3506, which shall be valued by means of a\n percentage or percentages of original cost, or by such other method as may\n reasonably be expected to determine the actual fair market value.\n\n 18. All tangible personal property employed in a trade or business other than\n that described in subdivisions 1 through 17, which shall be valued by means of\n a percentage or percentages of original cost.\n\n 19. Outdoor advertising signs regulated under Article 1 (§ 33.2-1200 et\n seq.) of Chapter 12 of Title 33.2.\n\n 20. All other tangible personal property.\n\nB. Methods of valuing property may differ among the separate categories, so long\nas each method used is uniform within each category, is consistent with\nrequirements of this section and may reasonably be expected to determine actual\nfair market value as determined by the commissioner of revenue or other\nassessing official; however, assessment ratios shall only be used with the\nconcurrence of the local governing body. A commissioner of revenue shall upon\nrequest take into account the condition of the property. The term\n“condition of the property” includes, but is not limited to,\ntechnological obsolescence of property where technological obsolescence is an\nappropriate factor for valuing such property. The commissioner of revenue shall\nmake available to taxpayers on request a reasonable description of his valuation\nmethods. Such commissioner, or other assessing officer, or his authorized agent,\nwhen using a recognized pricing guide as provided for in this section, may\nautomatically extend the assessment if the pricing information is stored in a\ncomputer. For any locality in which the commissioner of revenue or other\nassessing official adjusts the valuation of property described in subdivision A\n3 to account for the amount of mileage on such vehicles, such adjustment shall\nalso be provided to motorcycles described in subdivision A 10.\n\nHISTORY: Code 1950, \u00a7\u00a7 58-829, 58-829.3, 58-829.5; 1960, c. 418; 1970, cc.\n325, 655; 1974, c. 445; 1975, cc. 47, 541; 1976, c. 567; 1978, cc. 155, 178,\n656, 843; 1979, c. 576; 1980, c. 412; 1981, c. 236; 1982, c. 633; 1984, cc. 675,\n689; 1985, c. 105; 1987, c. 568; 1991, cc. 253, 255; 1994, c. 827; 1996, c. 529;\n1997, cc. 192, 250, 433, 457; 2006, c. 896; 2013, cc. 287, 652, 783; 2018, cc.\n28, 292; 2022, c. 655; 2023, cc. 148, 149.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}