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Virginia's Car Tax
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Thanks to Gov. James S. Gilmore III's tax-reduction plan, Virginia's residents will see declining car taxes the next five years. Here are two examples.
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Example 1
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1997 Car value: $13,600
Tax rate: 0.0457
Tom Culpepper of Fairfax County bought his green Ford Explorer in April 1994. Since then, he's paid $2,721.55 in personal property taxes on the vehicle.
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Example 2
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1997 Car value: $36,000
Tax rate: 0.0457
Chris Courtney of Fairfax County leased his red Saab 900 Turbo in March 1997. Since then, he's paid $900 in personal property taxes for the part of the year he has owned the car.
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Future assessed values were estimated, based on depreciation rates of past assessments for similarly equiped vehicles as calculated by Fairfax County Department of Finance. |
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© Copyright 1998 The Washington Post Company
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