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The Personal Property Tax Relief Act (PPTRA) provides tax relief on the first $20,000 of value for qualifying vehicles.
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A vehicle must meet all three of the requirements below to qualify for tax relief:
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- Be a passenger car, pickup or panel truck* weighing less than 10,001 pounds, or a motorcycle; and
- Be (a) owned by a natural person, or (b) leased by a natural person under a contract requiring such person to pay the tangible personal property tax, or (c) held in a private trust; and
- NOT be used for business purposes.
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(*As defined by the Code of Virginia)
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These vehicles DO NOT qualify for PPTRA:
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- Vehicles used over 50% of the time for business purposes OR
- Vehicles for which a business vehicle tax deduction (depreciation and other expenses) have been claimed on the federal income tax return of a business or individual by the filing of a:
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- Schedule C – Form 1040 / Profit or Loss from Business
- Form 2106 – Employee Business Expenses, or
- Form 4562 – Depreciation and Amortization Schedule
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More information on determining whether a vehicle is used for business or nonbusiness purposes can be found on DMV’s website at
www.dmv.state.va.us/webdoc/general/pptr/nonbusiness.asp.
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