§ 9-181. Imposition; amount.

(a)

Every person certified to engage in the short-term rental business:

(1)

As defined in subsection 9-183(a)(1), shall pay a tax of one percent on the gross proceeds of such business; or

(2)

As defined in subsection 9-183(a)(2), involving heavy equipment rental, shall pay a tax of one-and-one-half percent on the gross proceeds of such business.

(b)

For purposes of this section, "gross proceeds" means the total amount charged to each person for the rental of daily rental property, excluding any state and local tax paid pursuant to the Virginia Retail Sales and Use Tax Act.

(c)

The imposition and collection of a short-term rental property tax pursuant to this section with respect to rental property shall be in lieu of taxation of such rental property as tangible business personal property in the same tax year.

(d)

Except for daily rental vehicles, rental property shall be classified, assessed and taxed as tangible personal property if such property:

(1)

Is owned and rented by a person not engaged in the short-term rental business, as defined in section 9-183; or

(2)

Has acquired situs in the county and is owned and rented by a person who does not collect and remit to the commissioner of the revenue a short-term rental property tax with respect to the rental of such property.

(Code 1978, § 8-60; Ord. of 10-14-09, § 1)

(Code 1978, § 8-60; Ord. of 10-14-09, § 1)