VA personal property tax

[swazi]

Anybody in VA receive their property tax bill? I'm in FF. Last year my assessed value was ~$60,500 (admittedly low), but this year it is assessed at ~$85,500! This amount is supposed to be the blue book (or whatever equivalent they use) value at 1/1/23.
I would appreciate input on what others are seeing on tax bills as the assessed value.

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[Donald Stanfield]

You have to pay yearly tax on cars? Man that's bullshit.

 

[Electrified Outdoors]

Anybody in VA receive their property tax bill? I'm in FF. Last year my assessed value was ~$60,500 (admittedly low), but this year it is assessed at ~$85,500! This amount is supposed to be the blue book (or whatever equivalent they use) value at 1/1/23.
I would appreciate input on what others are seeing on tax bills as the assessed value.

What is your config?

 

[zefram47]

You have to pay yearly tax on cars? Man that's bullshit.

Colorado calls it a "specific ownership tax", but they throw it in our annual registration rather than a separate bill. Still stupid and expensive. Highlights are taxable value is 85% of MSRP, taxed at 2.1% in year 1, 1.5% year 2, 1.2% year 3, 0.9% year 4, then 0.45% through year 9...then $3 after that. So about $1400 for my R1T this year.

https://leg.colorado.gov/sites/default/files/r19-1383_update_sot_issue_brief.pdf

 

[swazi]

What is your config?

LE Quad. They don't specify any of that on the bill though.
A couple of years ago they "upgraded" my Tesla M3 from one year to the next. But I caught it and disputed it. Clearly their mode of operation is to be as non-transparent as possible.

 

[swazi]

Colorado calls it a "specific ownership tax", but they throw it in our annual registration rather than a separate bill. Still stupid and expensive. Highlights are taxable value is 85% of MSRP, taxed at 2.1% in year 1, 1.5% year 2, 1.2% year 3, 0.9% year 4, then 0.45% through year 9...then $3 after that. So about $1400 for my R1T this year.

https://leg.colorado.gov/sites/default/files/r19-1383_update_sot_issue_brief.pdf

I think in the end most states have this tax in one form or another. And certainly all states get their pound of flesh. And to be clear I am not opposed to paying my fair share.
But the way Virginia does it have become very painful during and after the pandemic; The tax is flat and set by each jurisdiction/municipality/county. Around 4.5 - 5% But it is based on blue book value on January 1. There is some relief from the state for a portion of the first $20k. But obviously that is not keeping track with inflation.
In the past it was implied that the value of a vehicle will reduce over time so there is not any specific wording in the law to prevent huge jumps in prices like we saw in 2022.
In Fairfax I am seeing the county "celebrating" this windfall with huge pay raises. I wonder how they will cover those pay raises in future years when things normalize again.

 

[BrianBleep]

Adventure R1T assessed my 2022 truck at $70,075 for my 2023 pp taxes. I am in Richmond

 

[zefram47]

I think in the end most states have this tax in one form or another. And certainly all states get their pound of flesh.

In the upwards of 5 or so states I've lived in, this is the first where I've paid an annual tax to own a vehicle. For most, sales tax was enough.

 

[Kärsti]

Appalachian Mtns VA. My personal property tax on the R1T from delivery date August 12 2022 to end of year was $594, so thats about $1,669 annually, and the county had it valued at $55,980 for 2022, I hope they dont revalue it at 85k in 2023.

 

[Donald Stanfield]

I think in the end most states have this tax in one form or another. And certainly all states get their pound of flesh. And to be clear I am not opposed to paying my fair share.
But the way Virginia does it have become very painful during and after the pandemic; The tax is flat and set by each jurisdiction/municipality/county. Around 4.5 - 5% But it is based on blue book value on January 1. There is some relief from the state for a portion of the first $20k. But obviously that is not keeping track with inflation.
In the past it was implied that the value of a vehicle will reduce over time so there is not any specific wording in the law to prevent huge jumps in prices like we saw in 2022.
In Fairfax I am seeing the county "celebrating" this windfall with huge pay raises. I wonder how they will cover those pay raises in future years when things normalize again.

Not in any of the States I've lived in.

 

[waitingonanr1s]

Colorado calls it a "specific ownership tax", but they throw it in our annual registration rather than a separate bill. Still stupid and expensive. Highlights are taxable value is 85% of MSRP, taxed at 2.1% in year 1, 1.5% year 2, 1.2% year 3, 0.9% year 4, then 0.45% through year 9...then $3 after that. So about $1400 for my R1T this year.

https://leg.colorado.gov/sites/default/files/r19-1383_update_sot_issue_brief.pdf

At least we're locked to the MSRP and a set fee schedule each year here in CO. That would be annoying if it was based on the state's assessed value each year. Also provides benefit to the pre-price hike orders, unlike the OP's VA example.

 

[Electrified Outdoors]

LE Quad. They don't specify any of that on the bill though.
A couple of years ago they "upgraded" my Tesla M3 from one year to the next. But I caught it and disputed it. Clearly their mode of operation is to be as non-transparent as possible.

Why not dispute? That seems high unless they are using MSRP.

 

[zefram47]

At least we're locked to the MSRP and a set fee schedule each year here in CO. That would be annoying if it was based on the state's assessed value each year. Also provides benefit to the pre-price hike orders, unlike the OP's VA example.

Seriously...having your valuation go up on a depreciating asset would suck. Another thread on here today was talking about used car trade-in values being in the $60-70k realm already and here's Virginia trying to tell people their car should be taxed at $85k or whatever OP said.

 

[swazi]

Why not dispute? That seems high unless they are using MSRP.

Planning to dispute, just gathering some data first.

 

[swazi]

Is there a way i can check the blue book value on 1 January?

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