Personal Property Information

• Personal Property Taxes
• Personal Property Tax Relief Act ("No Car Tax")

Updated: 04/14/2011

Personal Property Taxes

• General Information
• Filing and Return Dates
• Tax Rates
• High Mileage Discount

General Information

The Commissioner of the Revenue is responsible for the assessment of tangible personal property owned by individuals. Tangible personal property includes automobiles, trucks, buses, motorcycles, motor homes, trailers, semi-trailers, aircraft and boats.

Hanover County is a prorating locality for personal property taxes on vehicles and trailers only. The tax year begins on January 1 and vehicles are assessed for the number of months they are garaged in Hanover County. If the vehicle moves from Hanover County to a non-prorating locality in Virginia, it will be taxed by Hanover County until December 31 of the current year. If the vehicle moves out of Virginia, it is assessed in Hanover County until it has been registered in the new state. Please contact the Commissioner's Office at 804-365-6129 for more information.

/ Personal Property Taxes

Filing and Return Dates

Effective January 1, 2006, Hanover County amended the personal property filing requirements in conjunction with the new permanant decal. Hanover County is now a 'File By Exception' locality, which means that annual filings are no longer required on vehicles, motorcycles, campers and trailers unless there is a change in situs or ownership.

Annual filings are still required on aircraft, mobile homes, boats and motors. The annual filing date is May 1, and any returns filed after May 1 will be subject to a late filing fee of $10.00 or 5% of the tax due, whichever is greater. Taxes are due annually on February 5 and are paid to the Treasurer's Office. Questions regarding payments should be directed to the Treasurer at (804) 365-6050.

/ Personal Property Taxes

Tax Rates

The personal property tax rate for vehicles is $3.57 per $100 assessed. Aircraft are taxed at $0.50 per $100 assessed. Vehicle assessments are based on the trade value in the Official N.A.D.A. Guide. The assessment will be based on the purchase price if the vehicle is not listed in the assessment guide.

/ Personal Property Taxes

High Mileage Discount

In an effort to accurately determine the value of vehicles, the Commissioner of the Revenue offers a discount for vehicles with high mileage. A high mileage formmust be filed annually by May 1. For more information, contact the Commissioner's Office at (804) 365-6129.
 

Personal Property Tax Relief Act ("No Car Tax")

• General Information
• Percentage of Relief
• Eligible Vehicles

General Information

The Personal Property Tax Relief Program is a multi year plan for phasing out the Personal Property Tax for privately owned "non-business use" vehicles. The tax relief is given on the taxes due for the first $20,000 in assessed value on qualified personal vehicles. No relief is given on any assessment amounts over $20,000. (EXAMPLE - if the vehicle assessment is $26,000, tax relief will be given on the tax due on the first $20,000 and full tax will be due on the remaining $6,000)

Owners of qualified personal vehicles with an assessed value of $1,000 or less receive a 100% exemption of the taxes due on that vehicle.

/ Personal Property Tax Relief Act

Percentage of Relief

• 1998 - 12.5%
• 1999 - 27.5%
• 2000 - 47.5%
• 2001 - 70.0%
• 2002 - 70.0%
• 2003 - 70.0%
• 2004 - 70.0%
• 2005 - 70.0%
• 2006 - 61.0%
• 2007 - 59.0%
• 2008 - 58.0%
• 2009 - 66.0%
• 2010 - 64.0%
• 2011 - 64.0%

/ Personal Property Tax Relief Act

Eligible Vehicles

The following vehicles are eligible for PPTRA

• Vehicles owned or leased by citizens, which are predominately used for non-business purposes. Vehicles include automobiles, motorcycles, pickups and panel trucks registered with DMV with a gross weight of 7500 pounds or less.
• Leased vehicles for personal (non-business) use are eligible when the lessee is responsible for direct payment of the personal property tax by the terms of the lease agreement.

The following vehicles are not eligible for PPTRA

• More than 50% of the vehicle's mileage for the year is for business purposes.
• More than 50% of the depreciation associated with the vehicle is deductible as a business expense.
• If the cost of the vehicle is expensed pursuant to section 179 of the IRS Code.
• Vehicles with farm use tags.