Personal Property Taxes Could Go Up as Used Car Values Increase

Loudoun County's personal property taxes are due May 5 — earlier than other counties — but it will eventually impact all Virginians.
“This isn't something that's going to be unique to Loudoun County,” Wertz said. “Vehicles across the state are valued based on NADA (National Automobile Dealers Association) used car guides, so other localities will see similar treatment."
The pandemic slammed the breaks on new vehicle production. Car rental companies were slowed, too, so instead of adding new vehicles into their fleet, they held onto their used vehicles.
Supply of used cars declined, demand went up, and value increased.
For example, a 2021 Toyota Camry increased in value by more than $1,000. A 2019 Dodge Ram jumped by more than $3,600. And a 2015 Honda CR-V increased by more than $500.

Related Keywords

Loudoun County , Virginia , United States , Washington , Virginians , Bob Wertz , Keith Barry , National Automobile Dealers Association , Honda , County Commissioner , Revenue Bob Wertz , Personal Property Taxes , Used Cars , உரத்த குரல் கவுண்டி , வர்ஜீனியா , ஒன்றுபட்டது மாநிலங்களில் , வாஷிங்டன் , பாப் வேரத்ஜு , கேய்ட் பாரி , தேசிய ஆட்டோமொபைல் விநியோகஸ்தர் சங்கம் , ஹோண்டா , கவுண்டி ஆணையர் , தனிப்பட்ட ப்ராபர்டீ வரி , பயன்படுத்தப்பட்டது கார்கள் ,