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Taxpayer Information
Assessment Methods for Personal Property
Automobiles & Trucks - Prorated
- Assessment based on NADA - Clean Loan Value or the CPI - Lowest Value (fair value)
- NADA Commercial Truck Guide (Loan Value)
- Percentage of Original Cost based on year of purchase
- Minimum Assessment <15,000 lbs. $100
- Minimum Assessment >15,000 lbs. $1,000
- Adjustments for condition as of January 1st (visual inspection/repair estimate):
- Adjustments for condition (noted on title by DMV): indicating salvage, rebuilt, or water damage, reduce NADA value by 10%
- Adjustments for mileage as of January 1 if valued by NADA
Motorcycles - Prorated
- Assessment based on NADA - Rough Trade-In
- Percentage of Original Cost based on year purchased
- Minimum Assessment $100
Low Speed Vehicles- Prorated
- Assessment based on percentage of original cost and year purchased
- Minimum Assessment $100
Motor Homes/RVs - Prorated (No PPTR)
- Assessment based on percentage of original cost and year purchased
- Minimum Assessment $100
Boats - Not Prorated
- Assessment based on ABOS Marine Blue Book Value
- Effective January 1, 2017 - Boats less than 18 feet in length, used for personal use, and non-motorized are exempt from personal property tax per county ordinance.
All Trailers - Not Prorated
- Assessment based on percentage of original cost and year purchased
- Minimum Assessment 14,999 lbs. and under $100
- Minimum Assessment 15,000 lbs. and over $1000
Mobile Homes
Mobile Homes are assessed based on price per square foot as determined in the Wingate Mobile Home Appraisal Guide (based on single and multiple sections rates).
Heavy Equipment - Not Prorated
- Assessment based on percentage of original cost and year purchased
- Minimum Assessment 14,999 lbs. and under $100
- Minimum Assessment 15,000 lbs. and over $1000
Aircraft (Includes Helicopters & Hot Air Balloons) - Not Prorated
- Assessment based on the Aircraft Bluebook Digest, using the “Wholesale” figure
- Percentage of Original Cost based on year purchased
Business Personal Property - Not Prorated
Assessment based on a percentage of original cost and year purchased
Machinery & Tools Used in a Manufacturing or Processing Business - Not Prorated
Assessment based on a percentage of original capitalized cost
Appealing a Business Tax Assessment
Any taxpayer who disagrees with an assessment of a local business tax, including business license tax, business tangible personal property tax, and machinery and tools tax, may appeal to the commissioner of the revenue for correction of such assessment within at least one year of the last day of the tax year for which such assessment is made, or within one year of the date of the appealable event (for business license assessments) or date of assessment (for business tangible personal property and machinery and tools assessments), whichever is later.
The written application for correction must be filed with the commissioner of the revenue at the office or by mail at:
P.O. Box 124
Chesterfield, VA 23832-0908
A local administrative appeal must be filed in good faith and sufficiently identify the:
- Amount in dispute
- Each alleged error in the assessment
- Grounds upon which the taxpayer relies
- Remedy sought
- Tax periods covered by the challenged assessments
- Taxpayer
- Any other facts relevant to the taxpayer's contention
Appealing a Vehicle Assessment
A taxpayer has three years from the end of the tax year in which an assessment was made, to appeal the assessment and ask for a correction. Please contact the Commissioner of Revenue’s Office and provide documentation to support the request for a change in the assessment.
For more details on appealing assessment please review the general information.