Vehicle Assessments Increase, Creating Higher Tax Bills

Supervisor Vega Inquires About Relief for Taxpayers

 

 

Many Prince William County taxpayers have received higher than expected personal property tax bills this year due to an increase in the market value of cars and trucks. The county uses the National Automobile Dealers Association (NADA) values to determine the “fair market value” of vehicles. In a press release from the Department of Finance, this increase in vehicle assessments is attributed to a number of reasons. Upon inquiry by Supervisor Vega, the county was unable to give an exact number for how much additional revenue the increase in vehicle assessments would bring in.

Supervisor Vega also asked about possible ways to provide relief to taxpayers. Unfortunately, there is currently no provision in Virginia Law that allows localities to provide rebates to taxpayers. This item would need to be addressed in tandem with the General Assembly and the Governor.

Since being elected, Supervisor Vega has consistently supported lowering tax rates – understanding that a flat tax rate leads to heavier and heavier tax bills as the values of homes and vehicles increase.

If taxpayers wish to appeal their vehicle’s assessment, they can find more information on this process on this page.

 

– Coles District Staff

 

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