For an estimate of the tax on your vehicle, contact the personal property division of the Commissioner's Office. Some people living in Hampton Roads might see some money remaining in their bank accounts thanks to recent decisions made by Virginia Beach and Chesapeake city councilmembers. Virginia Beach Revenue Commissioner Phillip Kellam said he noticed an increase in the value of cars this year, meaning that people would have to pay more in property taxes this year compared to others. Virginia Beach has a budget surplus compared to last year, and council members had been exploring ways to give taxpayers a break.
The value of cars in Virginia Beach is skyrocketing, but the annual tax that residents pay to own a vehicle in Virginia Beach will remain at a reasonable level, according to the city. On Tuesday, the City Council approved several measures that will ease the tax burden on residents and new businesses, including reducing the effects of increased car valuations. Instead, Moss supported a tax reduction plan presented by Kellam, who recently told the council that the fair market value of cars and trucks is distorted due to problems in the supply chain of new vehicles. If you have any questions or concerns regarding your personal property taxes, you can contact the appropriate office in Chesapeake or Virginia Beach.
The value of cars is skyrocketing, but the annual tax that residents pay for owning a vehicle in Virginia Beach will remain at a reasonable level, according to the city. In Virginia Beach, 400,000 cars and trucks are subject to the tax, according to Treasury Commissioner Phil Kellam.