78452658.1-3510.4Virginia Decodedhttps://vacode.org2016TaxationLocal TaxesTangible Personal Property, Machinery And Tools And Merchants' CapitalShort-term Rental Property.Short-term rental property; short-term rental businesses2009, cc. 480, 692; 2010, cc. 255, 295.A person is engaged in the short-term rental business if:sectionBB1 Not less than 80 percent of the gross rental receipts of such business during the preceding year arose from transactions involving the rental of short-term rental property, other than heavy equipment property as defined in subdivision 2, for periods of 92 consecutive days or less, including all extensions and renewals to the same person or a person affiliated with the lessee; orsectionB1B12A person who has not previously been engaged in the short-term rental business who applies for a certificate of registration pursuant to § 58.1-3510.5 shall be eligible for registration upon his certification that he anticipates meeting the requirements of a specific subdivision of subsection B, designated by the applicant at the time of application, during the year for which registration is sought.sectionDD1In the event that the commissioner of the revenue makes a written determination that a rental business previously certified as short-term rental business pursuant to § 58.1-3510.5 has failed to meet either of the tests set forth in subsection B during a preceding tax year, such business shall lose its certification as a short-term rental business and shall be subject to the business personal property tax with respect to all rental property for the tax year in which such certification is lost and any subsequent tax years until such time as the rental business obtains recertification pursuant to § 58.1-3510.5. In the event that a rental business loses its certification as a short-term rental business pursuant to this subsection, such business shall not be required to refund to customers daily rental property taxes previously collected in good faith and shall not be subject to assessment for business personal property taxes with respect to rental property for tax years preceding the year in which the certification is lost unless the commissioner makes a written determination that the business obtained its certification by knowingly making materially false statements in its application, in which case the commissioner may assess the taxpayer the amount of the difference between short-term rental property taxes remitted by such business during the period in which the taxpayer wrongfully held certification and the business personal property taxes that would have been due during such period but for the certification obtained by the making of the materially false statements. Any such assessment, and any determination not to certify or to decertify a rental business as a short-term rental business as defined in this subsection, may be appealed pursuant to the procedures and requirements set forth in § 58.1-3983.1 for appeals of local business taxes, which shall apply mutatis mutandis to such assessments and certification decisions.sectionEE1A rental business that has been decertified pursuant to the provisions of subsection E shall be eligible for recertification for a subsequent tax year upon a showing that it has met one of the tests provided in subsection B for at least ten months of operations during the present tax year.sectionFF1http://law.lis.virginia.gov/vacode/58.1-3510.4/46.2-100Definitions/46.2-100/58.1-3509Merchants' capital subject to local taxation; rate limit/58.1-3509/58.1-3510.5Renter's certificate of registration/58.1-3510.5/58.1-3510.6Short-term rental property tax/58.1-3510.6/58.1-3983.1Appeals and rulings of local taxes/58.1-3983.1//58.1-3510.4/58.1/III/35/3.1/58.1-3510.458.1-350058.1-3510.558.1-3510.658.1-370458.1-3706