If you believe that your vehicle has been over
assessed, you may appeal the assessment. Under the Code of Virginia,
individual sales, purchase prices or trade-in offers are not the basis
for vehicle assessments. Value
adjustments are generally for conditional factors which can be readily
identified and the extent of any loss of value clearly documented. Body
damage, rusting, and high mileage are conditional factors for which
adjustments in value are most frequently made.
If your vehicle was in less than average condition as of January 1,
(for example, accident damage or rusting) submit an Appeal Form and an
itemized estimate from an automobile repair facility detailing the
extent of damage and the cost to repair the vehicle. Other acceptable
documentation would be a copy of an insurance company estimate
describing the condition and cost to repair the damage. If your appeal
is for high mileage adjustment, please attach a copy of the latest
safety inspection slip, vehicle repair or similar documentation which
shows the mileage.
Business personal property is depreciated and taxed based on percentage
of original cost. Most business property, such as desks and chairs, and
machinery and equipment, is assessed at 80% of the original cost for
the first year and 10% less each succeeding year for six years, until
it reaches a floor of 20%. The schedule for computer equipment is 50%
of the original cost the first year, 35% the second year, 20% the third
year, 10% the fourth year, and 2% in year five and after. It is
important to note, "original cost" includes the full
capitalized cost to include sales tax, freight and installation. All
returns are subject to local tax audit.
- To appeal business personal property, please submit a letter to the Director, Personal Property and Business License Division, Department of Tax Administration, 12000 Government Center Parkway, Suite 223, Fairfax, VA 22035 documenting the basis for the appeal, and include all substantiating documentation. For more information call 703-222-8234 [TTY 711].