Virginia Personal Property Tax

[DfibRL8R]

I'm curious to hear from other Cybertruck owners around Virginia how much your new trucks are being "assessed" at for the purposes of Virginia's annual personal property tax. I am in Loudoun County and ended up with a "Taxable Value" of $91,787. This will lead to a tax bill of $3,576.76 for 2024 (it will be reduced/prorated since I didn't get the car until May). They arrived at this taxable value by charging 90% of the new vehicle purchase price. The issue I have with this is that means I end up paying taxes on portions of the Foundation package which aren't even part of a car (Mobile connector), and Full Self Driving does not actually exist on the truck. My understanding of the Virginia Code is the Taxable Value of a new vehicle is supposed to be based on the MSRP and not include upgrades (like wheel packages which could easily be purchased after the initial sale to avoid having the new car price elevated). The MRSP is supposed to be listed in the NADA New Car Price Guide (maybe an organization that has an anti-Tesla bias). I also wonder how other new non-Tesla vehicles and handled in terms of using a percent of their purchase price verses a percent of their MSRP price. I'm all for paying my fair share but paying extra tax on a non-existent but expensive feature (like FSD) seems wrong. There is an appeal process and having additional data points from around the state would be helpful if there are inconsistent practices out there.

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[Crissa]

They're just going for their pound of flesh, I suppose.

-Crissa

 

[TyPope]

I'm curious to hear from other Cybertruck owners around Virginia how much your new trucks are being "assessed" at for the purposes of Virginia's annual personal property tax. I am in Loudoun County and ended up with a "Taxable Value" of $91,787. This will lead to a tax bill of $3,576.76 for 2024 (it will be reduced/prorated since I didn't get the car until May). They arrived at this taxable value by charging 90% of the new vehicle purchase price. The issue I have with this is that means I end up paying taxes on portions of the Foundation package which aren't even part of a car (Mobile connector), and Full Self Driving does not actually exist on the truck. My understanding of the Virginia Code is the Taxable Value of a new vehicle is supposed to be based on the MSRP and not include upgrades (like wheel packages which could easily be purchased after the initial sale to avoid having the new car price elevated). The MRSP is supposed to be listed in the NADA New Car Price Guide (maybe an organization that has an anti-Tesla bias). I also wonder how other new non-Tesla vehicles and handled in terms of using a percent of their purchase price verses a percent of their MSRP price. I'm all for paying my fair share but paying extra tax on a non-existent but expensive feature (like FSD) seems wrong. There is an appeal process and having additional data points from around the state would be helpful if there are inconsistent practices out there.

Maryland here... following with great interest.

 

[AbblePC]

I'm curious to hear from other Cybertruck owners around Virginia how much your new trucks are being "assessed" at for the purposes of Virginia's annual personal property tax. I am in Loudoun County and ended up with a "Taxable Value" of $91,787. This will lead to a tax bill of $3,576.76 for 2024 (it will be reduced/prorated since I didn't get the car until May). They arrived at this taxable value by charging 90% of the new vehicle purchase price. The issue I have with this is that means I end up paying taxes on portions of the Foundation package which aren't even part of a car (Mobile connector), and Full Self Driving does not actually exist on the truck. My understanding of the Virginia Code is the Taxable Value of a new vehicle is supposed to be based on the MSRP and not include upgrades (like wheel packages which could easily be purchased after the initial sale to avoid having the new car price elevated). The MRSP is supposed to be listed in the NADA New Car Price Guide (maybe an organization that has an anti-Tesla bias). I also wonder how other new non-Tesla vehicles and handled in terms of using a percent of their purchase price verses a percent of their MSRP price. I'm all for paying my fair share but paying extra tax on a non-existent but expensive feature (like FSD) seems wrong. There is an appeal process and having additional data points from around the state would be helpful if there are inconsistent practices out there.

I would be darned if I would pay some” luxury” tax on any EV truck let alone a Tesla Cybertruck, PA here but would certainly appeal and also look at moving to a friendlier state where it comes to taxation without representation. Gas tax or EV registration tax ugh, somewhat ok, but a luxury tax, that’s asinine.

 

[TyPope]

I would be darned if I would pay some” luxury” tax on any EV truck let alone a Tesla Cybertruck, PA here but would certainly appeal and also look at moving to a friendlier state where it comes to taxation without representation. Gas tax or EV registration tax ugh, somewhat ok, but a luxury tax, that’s asinine.

It's just a normal sales tax, not a luxury tax.

 

[PhilTmonster]

Oh the old Virginia fuxk me in the a$$ tax. I have a home in VA and a home in FL. I purchased my model S p85+ in early 2014 in Virginia. My estimated tax since purchase including the original sales tax is now at about $25k (10 years later). Think about that for a moment……

my truck is registered in Florida at my house there.. other than sales tax there will be nothing….

this is why we live in a world where our children will not be able to afford to buy a house…

I think we went from taxation without representation to “heavy taxation with marginal representation”…

 

[AbblePC]

It's just a normal sales tax, not a luxury tax.

for the purposes of Virginia's annual personal property tax.

Wrong, read it again as OP mentioned it as an annual property tax, not sales.

 

[Lasttoy]

U miss Gov Gilmore?? That's why I moved to no tax state. I had 5 cars, RV , boat.

 

[CyberGus]

In Virginia, you’re taxed on the value of all your property annually. I always bristled at this type of taxation, but all states collect tax one way or the other. Virginia is #21 on state tax burden, so overall it’s in the middle of the pack. ?‍

 

[65SoYoLO]

In Virginia, you’re taxed on the value of all your property annually.

That is crazy.

 

[CyberGus]

That is crazy.

Many states have property tax on homes, or have vehicle registration fees based on the car’s value. Virginia just includes all your property for valuation, which you estimate (dunno what happens if you claim $2 and get audited lol)

 

[M0unt41nm4n]

Many states have property tax on homes, or have vehicle registration fees based on the car’s value. Virginia just includes all your property for valuation, which you estimate (dunno what happens if you claim $2 and get audited lol)

Yeah Colorado does that. So I buy it in Colorado for a 2.9% sales tax, register it for the first year, then bring it over to Utah on year 2. My registration goes from $1300/yr to about $300.

 

[REM]

Many states have property tax on homes, or have vehicle registration fees based on the car’s value. Virginia just includes all your property for valuation, which you estimate (dunno what happens if you claim $2 and get audited lol)

Property taxes are evil, and completely nullify the idea that you are able to legally own any property in the United States. You simply rent it from our overlords.

 

[CyberGus]

Property taxes are evil, and completely nullify the idea that you are able to legally own any property in the United States. You simply rent it from our overlords.

It is our patriotic duty to pay our fair share of taxes.

Why do you hate America

 

[Nephilim]

This specific issue is literally on the ballot on the 7th

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