Virginia Tax Bulletin 22-4: New class of personal property for certain types of vehicles

23 Mar 2022 12:24 PM | Anonymous

Effective March 22, 2022, House Bill 1239 (Chapter 30, 2022 Acts of Assembly) creates a new class of tangible personal property for local personal property tax purposes. This new class includes the following types of vehicles:

  • Automobiles as described in Va. Code 58.1-3503(A)(3);
  • Passenger trucks as described in Va. Code 58.1-3503(A)(4)-(5);
  • Motor vehicles with specially designed equipment for use by the handicapped as
    described in Va. Code 58.1-3503(A)(9); and
  • Motorcycles, mopeds, all-terrain vehicles, and off-road motorcycles, campers, and other recreational vehicles as described in Va. Code 58.1-3503(A)(10).

Localities now have the option to assign a tax rate to this class that's different from the rate applicable to the general class of tangible personal property. This legislation is applicable to taxable years beginning on or after January 1, 2022, but before January 1, 2025. 

View the Tax Bulletin

If you have additional questions, go to www.tax.virginia.gov, or contact us at 804.367.8031 for individual income tax questions and 804.367.8037 for business tax questions.


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