Major Taxes Affecting Businesses in Newport News
| State Corporate Income Tax |
6% |
| State Indivudual Income Tax |
5.75% maximum rate |
| State Sales Tax |
5.0% plus 1% local option |
| State Motor Vehicles Tax |
4.15% or $75 whichever is greater |
| Real Property Tax |
$4.50/$100, assessed value |
| Machinery and Tool Tax |
$3.75/$100 |
| Business Personal Property Tax |
$4.50/$100 |
| Vehicle Tax |
4.15%/assessed vehicle gross price |
| Hotel Tax |
5% |
| Meal Tax |
7.5% (plus sales tax) |
| Business License: |
Business License Tax Rate Schedule |
| Real Estate Tax |
$1.18/$100 of assessment (effective July 1, 2023) |
| Updated 2.19.19 |
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Taxes (Paid by Individuals)
| State Income Tax |
5.75% (top rate) |
| Municipal Income Tax |
None |
| Real Property Tax |
$1.24/$100, assessed value |
| Personal Property Tax (vehicles* and boats) |
$4.50/$100, assessed value |
| Sales Tax |
5.0% plus 1% local option |
| Meals Tax |
7.5% (plus sales tax) |
*The tax on the first $20,000 of the assessed value of qualified personal property will be reduced for tax years 2006 and forward.
Source: City of Newport News, Department of Development
Updated 2.19.19 |
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Your firm can be assured of comprehensive, reliable and moderately priced utility services when locating in Newport News. Utility providers serving Newport News offer ample capacity in the power, water, sewage and telecommunications systems to serve your firm now and to meet its expanding needs into the future.
ELECTRIC
Electric power is provided by Dominion Virginia Power, a subsidiary of Dominion Resources, Inc. The electric utility serves more than 3.8 million customers in five states. Dominion Virginia Power has 89 interconnected generating units, providing a generating capability of more than 18,600 megawatts. An efficient mix of fossil fuel and nuclear generating plants, combined with judicious purchases of electricity from other systems keeps electric rates at moderate levels.
The utility has 6,000 miles of electric transmission lines. Dominion Virginia Power expects to maintain a reserve capability of between 17 and 23 percent in the twenty-first century. System wide reliability reached 99.98% during 2001 and is even higher in most Newport News industrial and business parks. Dominion Virginia Power can also offer incentive rate pricing to high-demand users.
Virginia Power Incentive Rate Pricing Qualifying Demand: 500 Kw – 5 Mw Savings on Demand Portion of Electric Bill
|
Year 1
|
Year 2
|
Year 3
|
Year 4
|
Year 5
|
|
25%
|
20%
|
15%
|
10%
|
5%
|
| Source: Dominion Virginia Power |
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Dominion Energy Generating Capability
|
Nuclear
|
33.8%
|
| Coal-fired |
26.5% |
| Natural Gas |
33.6% |
| Oil |
.5% |
| Hydro/Biomass/Wind |
5.6% |
| Source: Dominion Virginia Power |
|
NATURAL GAS
New industrial natural gas service is readily available from Virginia Natural Gas (VNG), a subsidiary of AGL Resources. Its service area stretches from Virginia Beach to Hanover County near Richmond. VNG serves more than 218,000 residential households. It provides service to more than 12,100 commercial and industrial customers, including 150 large industrial customers with interruptible service. VNG has more than 8,000 miles of main. Natural gas is delivered via three pipeline gates on the Virginia Peninsula.
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Typical Gas Utility Costs, in Newport News, 2009
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Average Natural Gas Prices (Dollars per thousand cubic feet), 2012
WATER
Water is provided regionally by the Newport News Waterworks. Service is provided to over 111,000 customers in five jurisdictions. The raw water system is currently rated with an annual average safe yield of about 60 million gallons per day (MGD). Actual usage of raw water is about 52 MGD. The system is served by two terminal reservoirs with a total treatment plant capacity of 85 MGD, expandable to 104 MGD. On an annual basis, present customer demand on the system is 50 MGD, with the maximum day of record at almost 70 MGD. Current plans call for a 5-10 MGD expansion of raw water capacity in the short term through desalination of low-level brackish well water supplies north of Newport News. (See pages G-8 and G-9 for water rates).
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Typical Monthly Water Bills, Hampton Roads Water Systems, 2010
SEWER
Sewage treatment and disposal is handled by a regional authority. The Hampton Roads Sanitation District Commission operates four sewage treatment plants on the Peninsula. The Sanitation District’s Industrial Waste Division provides special technical assistance in order to aid new industries in determining the costs and alternatives associated with industrial waste treatment. The City, through its Engineering and Public Works Departments, constructs, upgrades and maintains sanitary sewer and wastewater feeder lines throughout Newport News.SOLID WASTE
Solid waste disposal is a function of the City’s Public Works Department. The City uses a private regional landfill and has developed a comprehensive recycling program for households and businesses. Residential solid waste collection is provided by the City. Commercial and industrial solid waste collection is provided by the private sector.
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|
Industrial
|
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| VIRGINIA |
$5.14
|
$8.14
|
|
Connecticut
|
$6.63
|
$9.20
|
| Delaware |
$9.91
|
$10.37
|
| District of Columbia |
NA
|
$10.87
|
| Florida |
$6.97
|
$10.97
|
| Georgia |
$4.68
|
$8.07
|
| Illinois |
$5.76
|
$7.25
|
| Maine |
$9.24
|
$11.33
|
| Maryland |
$9.84
|
$10.27
|
| Massachusetts |
$9.90
|
$10.16
|
| Michigan |
$6.04
|
$7.02
|
| New Jersey |
$7.92
|
$9.14
|
| New York |
$7.81
|
$7.39
|
| North Carolina |
$6.24
|
$8.92
|
| Ohio |
$6.71
|
$5.99
|
| Pennsylvania |
$8.38
|
$9.42
|
| Rhode Island |
$8.48
|
$12.98
|
| South Carolina |
$4.90
|
$9.30
|
| Tennessee |
$5.05
|
$8.35
|
| Vermont |
$6.65
|
$4.55
|
| Dollars per Thousand Cubic Feet
Source: Energy Information Administration
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