With only one local taxing authority in each community, Hampton Roads has one of the lowest combined state and local tax rates in the nation. The six percent corporate income tax rate has not been raised since 1972. There is no local income tax, utility tax, property tax on state level, local license tax on headquarters and regional offices, intangible property tax, or inventory tax.
With a real estate tax of only $0.77 per $100 valuation and low utility tax, the county is an inexpensive place to do business. View the Business License and Tax Rate schedules.