TAZEWELL COUNTY, Va. (WVVA) – Many taxpayers in Tazewell County will likely be happy to learn there is a plan to give them some relief. Tazewell County Executive Eric Young said the Board of Supervisors voted Tuesday night to approve $1 million in addition to $2.7 million in funding from Virginia’s Personal Property Tax Relief Act.
The money will be used to promote vehicle tax relief, but this relief is limited to vehicles valued at up to $20,000.
“One of the reasons we did this is because the money is being used for lower-value vehicles and personal vehicles. That means the millions of dollars in tax relief is for people’s personal vehicles, not company vehicles,” Young said.
Young says the tax break was created this way to reduce the tax burden for people in difficult situations. He says county leaders wanted to offset the burden created by last year’s property assessment.
This move resulted in Tazewell County taxpayers paying significantly more taxes on their property.
“It was quite high compared to the previous amount, mainly due to inflation and the state of the economy. Since then, we have been looking for a way to provide tax relief to our citizens that fits within our budget and still allows us to provide our services,” Young said. “This route was the best way to do that and help the people we felt were most impacted.”
Young believes this is the first time the county has increased funds from the Personal Property Tax Relief Act. Young says the tax values of residents’ vehicles could be reduced by about 60%.
Young says the additional funds were released after the county eliminated five positions. He says they also eliminated several unnecessary projects throughout the county.
Young says taxpayers should note that the funds will be automatically applied to tax returns that are mailed next month. He says the average household will save an average of $54 in vehicle taxes thanks to the millions of dollars in additional funding from the county.
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