Income tax and personal property tax; allows localities to impose. (HB578)

Introduced By

Del. Vivian Watts (D-Annandale)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Local piggyback income tax and personal property tax. Allows localities to impose a local income tax at a rate of either 0.50% or 1% upon the Virginia taxable income of individuals, trusts, estates, and corporations provided the personal property tax rate does not exceed $0.01 per $100 of value on personally owned motor vehicles. The Tax Commissioner collects the tax and returns it to localities based on taxpayers' residences. A new classification for personal property tax purposes is created for motor vehicles used for nonbusiness purposes. The provisions of the act will take effect January 1, 2007. Read the Bill »


Bill Has Failed


01/10/2006Prefiled and ordered printed; offered 01/11/06 064132544
01/10/2006Referred to Committee on Finance
01/18/2006Assigned to Finance sub-committee: #1 (Orrock)
01/31/2006Fiscal impact statement from TAX (HB578)
02/15/2006Left in Finance