Residents and businesses owning tangible personal property, such as vehicles, machinery, or business equipment, within Fredericksburg city limits are subject to an annual levy based on the assessed value of these assets. This assessment is typically conducted by the Commissioner of the Revenue’s office. For example, a resident owning a car and a boat would have both of those items assessed for their value, which would then be used to calculate the tax owed.
These revenues provide crucial funding for essential city services such as schools, public safety, infrastructure maintenance, and parks and recreation. This local tax base directly impacts the quality of life within the community and ensures the continued development and upkeep of public resources. The specific rates and regulations have evolved over time, reflecting the changing needs of the municipality and its residents.
