The City of Newport News charges a tax on all automobiles and trucks of public service corporations in the City of Newport News, and other property segregated to and taxable by the city except as otherwise specially taxed or exempted from taxation by the laws of the Commonwealth of Virginia or by the ordinance of the City of Newport News, Virginia.
The City of Newport News also charges a tax on all tangible personal property of public service corporation, except aircraft, automobiles and trucks.
All public service corporations are required to submit their annual reports to the Division of Public Service Taxation (PST), of the Virginia State Corporation Commission. The Division of Public Service Taxation is responsible for the assessment of all property of Public Service Corporations for local taxation. This includes electric, gas, telecommunications, and water companies. The Division of Public Service Taxation submits an annual assessed valuation report to the Commissioner of the Revenue.