Annual Reports

Property Assessments

Pursuant to §58.1-2610 of the Code of Virginia, the following types of public service companies shall report annually, on or before April 15, all real and tangible personal property in Virginia as of January 1 preceding:

• Electric Light & Power Corporations and Electric Suppliers
  • Electric Annual Tax Report/Statement of Gross Receipts
• Gas and Pipeline Distribution Companies
  • Gas Annual Tax Report
• Water Companies
  • Water Annual Tax Report/Statement of Gross Receipts
• Telegraph and Telephone Companies
  • Telecom Annual Tax Report/Statement of Gross Receipts

Failure to file on time may result in penalties (§58.1-2610 of the Code of Virginia).

Supporting financial information should be included with the annual tax reports so the values reported can be verified.

Property is reported showing the city, county, town, or magisterial district where it’s located. Each locality has a code that should be listed with the locality name. The codes can be found on the List of PST Locality District Codes.

Companies that are required to file an annual property report must notify this office in a timely manner of any and all property transactions (purchases, sales, exchanges, dedications, donations, etc.) that occur during the year by filing a Real Estate Transaction Form. This information should be reported at least every six months, but in no case should we be notified later than January 31 of the following calendar year. Providing this information promptly allows this office adequate time to determine the fair market value and report it back to you for inclusion in the annual tax report to the Commission.

Rolling Stock Assessments

Motor Vehicle Carriers must report annually, on or before March 1, all rolling stock owned or operated in Virginia.

More information can be found on the Rolling Stock Tax on Motor Vehicle Carriers section.