Personal property taxes in Virginia
05-15-2005, 02:18 AM
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Personal property taxes in Virginia
Hi all,
I'm planning to move in Ashburn, VA within 6 months from Maryland and I heard that they tax on your car as personal property tax...
I have 01 E430 4 Matic and would like to know how much I need to expect to pay... Thanks
I'm planning to move in Ashburn, VA within 6 months from Maryland and I heard that they tax on your car as personal property tax...
I have 01 E430 4 Matic and would like to know how much I need to expect to pay... Thanks
05-15-2005, 10:34 AM
#2
Super Member
The tax rate in Loudoun County is 4.20% of the assessed value of your car. Unfortunately, the value of your car is determined by the NADA Retail price. In your case, the assessed value is $30,650. The tax is about $1300 a year.
Several years ago Virginia passed the Personal Property Tax Relief Act. The Commonwealth pays 70% of the tax assessed on the first $20,000 of value for non-commercial vehicles. As long as you're eligible, this shaves about $600 off your obligation.
I would expect to pay somewhere in the neighborhood of $700 a year for the car. If your mileage is higher than average, you can send in documentation and ask for a high mileage adjustment. The car tax is supposed to be phased out by 2012 I believe.
Ironically, the tax on my old 450SL was zero. It was old enough that it was off their books, so they valued it at $200. There's no tax on vehicles worth less than $1,000. Its market value is the same or more than the 98 E320 4Matic I replaced it with.
Several years ago Virginia passed the Personal Property Tax Relief Act. The Commonwealth pays 70% of the tax assessed on the first $20,000 of value for non-commercial vehicles. As long as you're eligible, this shaves about $600 off your obligation.
I would expect to pay somewhere in the neighborhood of $700 a year for the car. If your mileage is higher than average, you can send in documentation and ask for a high mileage adjustment. The car tax is supposed to be phased out by 2012 I believe.
Ironically, the tax on my old 450SL was zero. It was old enough that it was off their books, so they valued it at $200. There's no tax on vehicles worth less than $1,000. Its market value is the same or more than the 98 E320 4Matic I replaced it with.
Last edited by lexrex; 05-15-2005 at 10:35 AM. Reason: added links
