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Waynesboro News

Posted on: October 20, 2022

Personal Property Tax Bills, Assessed Value for 2022

Personal Property Tax Bills, Assessed Value for 2022

Personal property tax bills are being prepared. Tax payment will be due on December 5, 2022. Many individuals will experience an increase in assessed value on vehicles for 2022. 

Post Date: 10/20/2022 9:00 AM 


Personal property tax bills are getting ready to be sent out the week of October 24th and payment will be due on Monday, December 5, 2022. As you may know, the value of most vehicles has increased from 2021 to 2022. A vehicle shortage due to supply-chain issues has not only decreased new vehicle inventory but also increased demand on used vehicles. The limited availability of vehicles in the market has increased their value and this has impacted assessments on personal property throughout the Commonwealth and across the country.  


Citizens can expect to see higher motor vehicle assessments on their tax bill. To help provide relief to the City of Waynesboro taxpayers, City Council voted to reduce the tax rate from 3.25% to 2.62%, this is a 24% reduction. Your personal property tax bill will reflect this reduction.   


Questions about the Assessed Value 

If there are items on your bill that you did not own on January 1, 2022, if you were not a resident of the City of Waynesboro on January 1, or if you have questions about the value assigned to your vehicle, please contact the Commissioner of Revenue’s office at 540-942-6610. Remember, call volume is high during this time of year, so your patience is appreciated. 

 

How are vehicle values assessed?

The Commissioner of the Revenue is required by law to assess the value of personal property using a recognized pricing guide. The City of Waynesboro uses JD Power car guides’ (formerly the National Automobile Dealers Association / NADA) clean trade-in value. The clean trade-in value is used to account for wear and tear that a vehicle may incur over time. This assessment method has been used by the Commissioner of Revenue’s office for many years. 


Personal Property Tax Relief (PPTR) applies to the first $20,000 of assessed value and is set by the state. Some vehicles do not qualify for the PPTR reduction. Business vehicles do not qualify; personal vehicles that are used more than 50% for business do not qualify; trucks that are running farm or truck tags do not qualify.   


How will this affect me?

Here are some examples of how the assessments changed and the affect it had on the tax bills. 


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