One thing that often surprises people moving to Central Virginia—the personal property tax. Now, if you’re planning to call this beautiful region home, there’s something you need to know: each county has its own tax rate on personal property. That’s right—every year, you’ll be paying a tax on the cars, trucks, or even that old RV sitting in your driveway. In this video let’s look at the personal property tax rate on vehicles only because many counties have different rates for different types of personal property – for example – RVs, boats, trailers, etc
Let’s break down what this means for you in the counties of Amelia, Chesterfield, Powhatan, Prince Edward, and Nottoway.
Amelia County
First up, let’s head over to Amelia County, where the tax rate is $4.35 per $100 of your vehicle’s value. Here’s a key detail—Amelia does not prorate. That means whatever vehicles you own as of January 1st is what you’ll be taxed on for the entire year, even if you sell or get rid of them later on. However, on the flip side if you buy a vehicle on January 3rd, 2024 you won’t pay personal property taxes on it until December of 2025!
Nottoway County
Next, let’s head over to Nottoway County. Here, the personal property tax rate is $3.75 per $100 of your vehicle’s value. What’s important to know is that this value is based on pricing guide from NADA. And remember, this tax is based on where your vehicle is located on January 1st of the taxable year.
Prince Edward County
Prince Edward County has one of the higher rates in the area at $4.50 per $100. Like Nottoway, this county also uses the clean loan value from guides like J.D. Power. So, be prepared for that when budgeting your expenses.
Powhatan County
Moving over to Powhatan County, the rate drops a bit to $3.60 per $100. But here’s something unique—Powhatan splits this payment into two parts, one due in June and the other in November. So, make sure you mark those dates on your calendar!
Chesterfield County
Lastly, Chesterfield County has the lowest rate on our list at $3.35 per $100. And good news here—Chesterfield prorates their taxes. That means if you sell your car or move out of the county during the year, your tax bill will be adjusted accordingly.
So, when you’re considering a move to Central Virginia, remember that personal property tax is a key factor in your overall cost of living. It might not be the first thing on your mind when looking for that dream home, but it’s something you definitely want to factor into your budget. If you have any questions or need help navigating the ins and outs of moving to this area, give me call.
I’m Anita L Williamson, Associate Broker with James River Realty Group helping you establish roots in Central Virginia!
