Personal property tax in VA is assessed and billed annually. This recurring tax applies to tangible personal property such as motor vehicles, trailers, motorcycles, boats, and business equipment. Whether you own or lease a car, if it’s registered in Virginia, you can expect to receive a personal property tax bill from your city or county government once a year.
Annual Assessment and Billing
The personal property tax year typically begins on January 1. Local governments assess the value of taxable property as of that date, using valuation guides like NADA to determine the fair market value of vehicles. This valuation remains in effect for the entire calendar year, even if the value of the vehicle depreciates mid-year.
Once assessed, most localities issue one tax bill per year, though some split payments into two installments. The frequency of payments depends on where you live. For example:
- Loudoun County bills in two installments due on May 1 and October 5.
- Fairfax County sends out a single bill, typically due by June 5.
- Arlington County requires payment by October 5 each year.
Even though billing dates differ, the tax is still assessed on an annual basis, meaning you’re taxed on the full year unless proration applies.
Proration Policies
Many Virginia localities have proration policies, meaning if you buy, sell, move, or dispose of a vehicle mid-year, your tax is adjusted based on the number of months the vehicle was located in the jurisdiction. For example, if you move into a county in April, you may only owe for 9 months of the year. However, not all localities prorate—some charge the full year’s tax regardless of when you acquire or remove the vehicle.
Renewal and Notification
Your locality may notify you by mail or email when your tax is due, but it’s your responsibility to track due dates. Failing to pay on time can result in late fees, interest charges, and even holds on your DMV vehicle registration renewal.
Final Thoughts on Frequecy of Personal Property Tax in VA
In Virginia, personal property tax is assessed once a year, but payment frequency and deadlines vary by locality. To avoid surprises or penalties, it’s important to check your local government’s tax calendar and understand how proration and relief programs may affect your bill. Contact us today for expert assistance in personal property tax in VA. Our dedicated team at Dimov Tax is ready to present professional assistance.
