On September 1, 2004 a new law went into effect following the 2004 Special Session of the General Assembly. This special session resulted in increased state sales and use tax rate on sales of non-food items from 3.5% to 4%. This change resulted in a combined state and local tax rate of 5%.[top of page]
The Personal Property Tax Relief Act (PPTRA) of 1998 provides tax relief for passenger cars, motorcycles, and pickup or panel trucks having a registered gross weight less than 7,501 pounds. To qualify, a vehicle must 1. be owned by an individual or leased by an individual under a contract requiring the individuals to pay the personal property tax; and 2. be used less than 50% for business purposes. Motor homes, trailers, and farm use vehicles do not qualify for tax relief.
Does your vehicle qualify for Car Tax Relief???
If you can answer YES to any of the following questions, you motor vehicle is considered by State Law to have a business use and does NOT QUALIFY for the Car Tax Relief:
1. Is more than 50% of mileage for the year used as a business expense for Federal Income Tax purposes OR reimbursed by an employer?
2. Is more than 50% of the depreciation associated with the vehicle deducted as a business expense for Federal Income Tax purposes?
3. Is the cost of the vehicle expensed pursuant to Section 179 of the Internal Revenue Service Code?
4. Is the vehicle leased by an individual and the leasing company pays the tax without reimbursement from the individual?
Relief under the PPTRA is based on the local tax rate in effect on August 1, 1997. The tax rate at the time was $3.30 per $100 of assessed value. In 2000, the Board of Supervisors adopted a new tax rate of $4.05 per $100 of assessed value. This $.75 increase was not included under the PPTRA, and will not be paid by the Commonwealth of Virginia, and must be paid in full by the taxpayer. UNDER THE REVISED PPTRA, THE STATE WILL PAY 48% ON THE FIRST $20,000 OF VALUE OF A QUALIFYING VEHICLE, AND THE TAXPAYER WILL PAY THE REMINANIG 52% PLUS 100% OF THE TAX FOR ANY VALUE EXCEEDING $20,000. [top of page]
Buckingham County does not require a business license; however, a business' inventory must be reported with the Commissioner of the Revenue's Office and will be taxed under the merchant's capital tax rate. [top of page]
The existing eligibility qualifications, in general include: 65 years of older, or permanently disabled; must have been a Buckingham County resident for at least five years; total combined annual income not exceeding $35,000; net financial worth, excluding the value of the dwelling and land (no more than ten acres) shall not exceed $80,000. Taxpayers seeking assistance must file an application with the Commissioner of the Revenue between January 1st and April 1st of each year for which relief is sought. For further information or assistance, please contact the Commissioner of the Revenue. [top of page]
Our normal hours of operation are Monday thru Friday, 8:30 a.m.-4:30 p.m.
Please address all correspondance to
Linda S. Baird
Commissioner of the Revenue
County of Buckingham
P.O. Box 138
Buckingham, VA 23921
Our email address is lbaird@buckinghamcounty.virginia.gov
Telephone Numbers:
Business Taxes |
(434) 969-4972 |
Personal Property |
(434) 969-4181 |
Real Estate |
(434) 969-4972 |
State Income |
(434) 969-4181 |
Real Estate Tax Relief |
(434) 969-4972 |
FAX |
(434) 969-2753 |
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April 1: Tax stabilization application due
May 1: Business tax forms due
May 1: 762 Personal Property form due
May 1: State income tax due
- Registering all vehicles, boats, trailers, and other tangible personal property
- searching for the assessed, market value of tangible personal property and real estate
- providing the the assessment and reassessment of real property and real estate
All payments are made in the Treasurer's Office.
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