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Personal Property
Tax Relief - How Does it Affect You? |
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The Personal
Property Tax Relief Act of 1998 provides tax relief for any
passenger car, motorcycle, or pickup or panel truck having a
registered gross weight of less than 7,501 pounds. The
vehicle must be owned or leased by an individual and NOT used for
business purposes. A vehicle is considered to be used for
business purposes if:
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More than 50% of
the mileage for the year is used as a business expense for
Federal Income Tax purposes OR reimbursed by an employer;
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More than 50% of
the depreciation associated with the vehicle is deducted as a
business expense for Federal Income Tax;
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The cost of the
vehicle is expensed pursuant to Section 179 of the Internal
Revenue Service Code; or
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The vehicle is
leased by an individual and the leasing company pays the tax
without reimbursement from the individual.
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Vehicles qualified for tax
relief are noted on your tax bill and show a reduction for the portion of
the tax the Commonwealth will pay. For qualified vehicles, your tax
bill is reduced by the applicable tax relief percentage for the tax year
on the first $20,000 of value. Powhatan County will be reimbursed by
the Commonwealth for the amount of the reduction once you have paid the
balance due shown on your bill. If your qualifying vehicle's
assessed value is $1,000 or less, your tax has been eliminated and the
Commonwealth's share is 100%. |
| You are required
to certify annually to Powhatan County Commissioner of the Revenue that
your vehicle remains qualified to receive car tax relief. Therefore,
it is important that you review the information sent to you by your
locality to be sure that your vehicles are properly qualified. This
information may be included on items such as personal property tax
returns, decal applications or tax bills. If your vehicle is
improperly qualified or you are uncertain whether your vehicle would be
eligible for car tax relief because it is used part of the time for
business purposes, contact the Powhatan County Commissioner of Revenue's
office at 598-5619. |
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| Commissioner of
the Revenue, James B. Timberlake, II
Powhatan County Administration Building
3834 Old Buckingham Road, Suite C
Powhatan, Virginia 23139
598-5616 - phone
598-1532 - fax
e-mail: jtimberlake@powhatanva.gov
Office Hours: Monday - Friday
8:30 a.m. to 5:00 p.m. |
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Tax Calendar
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| January 15 |
Voucher #4, Estimated Income Tax |
| March 1 |
County
Business License |
| Jan.1
- March 1 |
File
for Tax Relief, Elderly & Disabled |
| May
1 |
State
Income Tax |
| May
1 |
Voucher
#1, Estimated Income Tax |
| May
1 |
File
Personal Property Forms & Business Personal Property
Forms |
| June
5 |
1/2
Real Estate Tax Due |
| June
15 |
Voucher
#2, Estimated Income Tax |
| Sept.
1 - Nov. 1 |
File
for Land Use |
| September
15 |
Voucher
#3, Estimated Income Tax |
| December 5 |
Remainder
of Real
Estate Tax Due for the year |
| December
5 |
Personal
Property Tax (Partial payments may be made throughout
the year) |
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Business
Licenses & Business Personal Property | Download
Virginia State Tax Forms
Land Use
Program | Payment
Information click here to transfer to Treasurer's Dept.
| Personal
Property Taxes | Personal
Property Tax Relief Act of 1998 | Real
Estate Taxes | Relief for the Elderly &
Disabled Home |