Home : Blogs : Gene Allen Realtor Hampton Roads Real Estate : Gene Allen Sells Hampton Roads Real Estate

Portsmouth To Finally Tax APM Terminals

The new APM Terminal in Portsmouth is currently paying $4 million in real estate taxes and $2.7 million in personal property taxes. The one thing they haven't been charged for is the giant cranes and there are six of them. They could either be personal or real property. The tax rate is different for each catagory. The cranes are being classified as real property and Portsmouth must now decide if wants to collect the tax retroactively.

http://www.geneallen.com/ Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of Hampton Roads. This site is updated daily with new real estate listings, pictures and other information vital to your home search.

Google gene allen

Posted by Gene Allen Realtor Hampton Roads Real Estate on 11/24/2008 07:16 PM

Comments (4)

apm terminal, portsmouth, real estate taxes

This post has been included in Virginia Information Portsmouth City County, VA Information Portsmouth, VA Information

4 Comments on Portsmouth To Finally Tax APM Terminals

NOV

2008

Gene

What's a APM terminal?

Sincerely

Tom Braatz

DEC

I'll echo Tom's comment: "What's an APM terminal?" That's a lot to be paying in taxes, so the only thing I could figure out was some sort of airport, but the giant cranes have me confused.

JAN

APM stands for A.P. Moller which is a danish shipping company home based out of Copenhagen, Denmark. It is a privately owned company. The have several subsidiary companies, Maersk is one of them. You know the container company with the big blue star. AP Moller has domestic and foreign flag ships. The help the military with transports and also help with Food Aid, the also do life cycle management for vessels. The have the world's largest container terminal over in CA and just built the one in Portsmouth a couple of years ago. The cranes are used to off load containers off of the vessels. You can check out the website www.maersklinelimited.com to find out more about their local operation in Norfolk, VA.

JAN

Thank you Rose. I probably couldn't have said it better myself. I sometimes assume that only local readers read localism but then I am reminded that I am wrong.

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?