Chief Patron: Governor Warner
Criteria, Non-Business Use, Personal Property Tax (language only)

Item 478 #1s

Language
Page 343, line 9, insert “A.”
Page 343, after line 11, insert:
“B.  During the personal property tax assessment and billing process, all local Treasurers, Commissioners of the Revenue and Directors of Finance, or officials acting in that capacity, shall annually notify all individuals receiving Personal Property Tax Relief of: a) the requirements necessary to meet the “Used for nonbusiness purposes” as defined in § 58.1-3523 of the Code of Virginia, and b) the statutory conditions under which the personal property tax relief program will not be advanced to the next level.  Such notification shall clearly explain the criteria as set forth in the Code of Virginia and how the taxpayer should inform the official of the non-qualifying status of the vehicle.  Such notification shall also inform the taxpayer of the penalties for failing to appropriately report a vehicle as set forth in § 58.1-3531 of the Code of Virginia.  In those localities using a unified assessment and billing process, separate notification by both the Local Treasurer and Commissioner of the Revenue is not necessary.  The Department of Motor Vehicles shall assist the local Treasurers, Commissioners of the Revenue and Directors of Finance, or officials acting in that capacity, in developing the notification and shall provide all vehicle purchasers and leaseholders the same information upon registering a vehicle with the Department of Motor Vehicles."

Explanation
(This amendment is self-explanatory. A companion amendment directs the Tax Department, as part of its ongoing Audit Compliance Program, to identify those individuals who have received personal property tax relief for unqualified vehicles.)