Personal Property Taxes are Due December 5th.
All cities and counties in Virginia have personal property taxes. The City of Radford taxes cars, trucks, buses, motorcycles, motor homes, trailers, and boats. This tax is assessed by the Commissioner of the Revenue while taxes are paid to the Treasurer.
Vehicles registered in the City of Radford will be taxed. Vehicles not registered with the Department of Motor Vehicles are also subject to tax if the vehicle is normally garaged, stored, or parked in the City with the exception of those exempted by law.
Virginia personal property tax is assessed by the Commissioner of the Revenue. Assessments are based on the
average value of similar vehicles as listed in pricing guides such as the N.A.D.A (National Automobile Dealers Association) used car guide. Personal Property tax rates are set annually by the City of Radford City council.
The Personal Property Tax Relief Act of 1997 provides tax relief for vehicles locally registered within the
Commonwealth of Virginia that qualify. The tax on the first $20,000 of value of your personal car, motorcycle, and pickup or panel truck under 10,000 pounds has been reduced by 27.5% for tax year 1999. The tax relief is only calculated against $2.14 per $100.00 of assessed value. The additional tax rate does not qualify for tax relief and is calculated against the full amount of assessed value of the
Personal property taxes for the City of Radford are due December 5th of each year. There is a penalty required
by the Virginia State Code for late payment of taxes. This penalty is 5% or $10, whichever is greater, but not to exceed the amount of the tax. The Treasurer is also required by the code to collect interest at an annual rate of 10% until payment is made. All delinquent accounts are assessed a $20.00 administrative fee after the due date per City Ordinance, Sect 2-59.
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. 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 purpose 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.
Vehicles qualified for tax relief are noted on your tax bill and show a reduction for the portion of the tax the Commonwealth will pay. For qualified vehicles, your tax bill is reduced by the applicable tax relief percentage for the tax year on the first $20,000 of value. The City of Radford will be reimbursed by the Commonwealth for the amount of the reduction once you have paid the balance due shown on your bill. If your qualifying vehicle’s assessed value is $1,000 or less, your tax has been eliminated however this tax relief is calculated using the City of Radford’s effective tax rate in effect August 1, 1997.
You are required to certify annually to the City of Radford that your vehicle remains qualified to receive
car tax relief. Therefore, it is important that you review the information sent to you by your locality to be sure that your vehicles are properly qualified. This information may be included on items such as personal property tax returns, decal applications or tax bills. If your vehicle is improperly qualified or you are uncertain whether your vehicle would be eligible for car tax relief because it is used part of the time for business purposes, contact the City of Radford Commissioner’s Office at 540-731-3613. When you display your City of Radford
decal and pay your taxes on qualified vehicles, you are certifying to the City of Radford that your vehicle has been qualified correctly.
These can also be paid via credit card.