Treasurer

Tax Relief


RELIEF ACT OF 1998

The 2005 General Assembly capped the total cost of car tax relief for the Commonwealth of Virginia at $950 million.  Each locality's share of the $950 million is based upon car tax relief reimbursements from the Commwealth to the locality for tax year 2004.  These funds are allocated to provide tax relief for qualifying vehicles in Smyth County.  The Board of Supervisors sets the percentage of tax relief at a level anticipated to exhaust PPTRA relief amounts provided.  The tax on the first $20,000 of value of your personal car, motorcycle and pickup or panel truck uner 7,501 pounds qualifies for reduction.  Vehicles valued at $1,000 or less, your obligation to pay this tax has been eliminated.
 
WHAT VEHICLES QUALIFY FOR TAX RELIEF?  

The personal property tax relief act of 1998 provides tax relief for passenger cars,
motorcycles, and pickup or panel trucks having a registered gross weight of less than 7,501 pounds.  To qualify, a vehicle must be owned or leased by an individual, and used less than 50% for business purposes.  In addition, motor homes, trailers, and farm use vehicles do not qualify for tax relief.