Personal Property Tax Information
What is the tax rate for personal property?
The tax rates for personal property are set by the Smyth County Board of Supervisors each year.
For 2025, the tax rates for the following categories of personal property are as follows:
- Personal Property: $2.30 per $100 in Assessed Value
- Airplanes: $1.40 per $100 in Assessed Value
- Machinery and Tools: $1.55 per $100 in Assessed Value
- Mobile Homes (used for residence): $0.59 per $100 in Assessed Value
- Merchants Capital (Inventory): $0.40 per $100 in Assessed Value
What is considered taxable personal property?
Automobiles, mobile homes, boats, motorcycles, trailers, aircraft, business personal property, machinery tools and merchant's capital
Who has to pay personal property tax?
Anyone who has personal property located in Smyth County on January 1 each year
If I sell or trade my vehicle after January 1st do I have to pay the full year taxes?
Yes. Smyth County does not prorate taxes. You must pay the full years taxes on the vehicle you owned on January 1 of each year.
I moved out of Smyth County after January 1, do I still owe personal property taxes for the whole year?
Yes. Smyth County does not prorate personal property taxes. If you were a resident of Smyth County on January 1, you are liable for personal property taxes for the entire year to Smyth County.
Who sets the personal property tax rate?
The Smyth County Board of Supervisors establishes a personal property tax rate each year. The tax rate may vary according to category.
What are my tax obligations if I am on active military duty maintaining Smyth County as my legal residence?
Under the Soldiers' & Sailors' Civil Relief Act, your tax liability would be to Smyth County regardless of where you are stationed or where your personal property may be garaged during the year.
As an active duty member of the military will I be taxed for personal property in Smyth County if I maintain a legal domicile in a state other than Virginia?
No. You would not be taxed in Smyth County on personal property registered in the name of the service person only, and if you reside here by virtue of active military orders. However, personal property registered jointly with a non-military member would be taxable for personal property taxes and license fees.
Does the Commission consider High Mileage in the assessment for vehicles?
The Commissioner is able to consider mileage for vehicles within JD Power Pricing Guidelines. Proof of mileage (visual confirmation, inspection report, Maintenace documentation) must be included with the application for high mileage. Adjustment for high mileage vehicles requires proper documentation and must be adjusted yearly. Please see the high mileage form here to apply: 2025 High Mileage Application
Does Smyth County offer a discount for vehicles owned by 100% Service-Connected Disabled Veterans?
Yes. Effective January 1, 2021, Article X, Section 6 (a)(8) entitles each qualifying, 100% Service Connected Disabled Veteran, to a tax exemption on 1 passenger vehicle or pickup truck, provided that it is owned by the qualifying Veteran or by the spouse of the qualifying Veteran and is used for the benefit of the qualifying Veteran. Unlike the 100% Service-Connected Disabled Veteran Real Estate exemption, this exemption does not have a surviving spouse benefit. This benefit expires upon the death of the qualifying Veteran. Please visit the following section to learn more: Disabled Veteran Information
Personal Property Tax Relief (PPTRA)
The Personal Property Tax Relief Act of 1998 provides tax relief for any passenger car, motorcycle, or pickup or panel truck having a registered gross weight of less than 7,501 pounds. Effective January 1, 2017 the registered gross weight was amended to allow vehicles with a gross weight of less than 10,001 pounds, provided that the vehicle has the appropriate passenger vehicle tag. The vehicle must be owned or leased by an individual and NOT used for business purposes.
A vehicle is considered to be used for business purposes if:
- More than 50% of the mileage for the year is used as a business expense for Federal Income Tax purposes OR reimbursed by an employer;
- More than 50% of the depreciation associated with the vehicle is deducted as a business expense for Federal Income Tax;
- The cost of the vehicle is expensed pursuant to Section 179 of the Internal Revenue Service Code; or
- The vehicle is leased by an individual and the leasing company pays the tax without reimbursement from the individual.
Personal Property tax applies at varying rates to the assessed value of the tangible personal property. Values are established by recognized pricing guides or a percentage of cost based on purchase date. The Commissioner of the Revenue's Office is the only office that has the authority to make an adjustment to an assessment.
