(A) Personal property in Northampton County set out in this section which is subject to taxation by Northampton County is classified into the following categories and taxed at the rates set out.
(1) Farm machinery and farm implements as set out in VA Code § 58.1-3505. The tax rate on such property shall be $2.60 per $100 of assessed value.
(2) Machinery and tools as provided in VA Code § 58.1-3507. This classification shall include but is not limited to boats and equipment used primarily in the commercial harvesting of seafood. The tax rate on such property shall be $2.16 per $100 of assessed value.
(3) Tangible personal property used in a research and development business. The tax rate on such property shall be $4.28 per $100 of assessed value.
(4) Aircraft having a maximum passenger seating capacity of no more than 50 which are owned and operated by scheduled air carriers operating under certificates of public convenience and necessity issued by the State Corporation Commission or the Civil Aeronautics Board. The tax rate on such property shall be $4.28 per $100 of assessed value.
(5) Heavy construction machinery, including, but not limited to land movers, bulldozers, front-end loaders, graders, packets, power shovels, cranes, pile drivers, forest harvesting equipment and ditch and other types of diggers. The tax rate on such property shall be $2.75 per $100 of assessed value.
(6) Computer hardware used by businesses primarily engaged in providing data processing services to other nonrelated or nonaffiliated businesses. The tax rate on such property shall be $2.75 per $100 of assessed value.
(B) The tax rates set out above shall be effective for the 1992 tax year and for subsequent years until changed by the Board of Supervisors of Northampton County.
(Ord. passed 11-20-1992)