If your vehicle has over 100,000 miles on it, it may qualify for the high mileage reduction and you may apply for a reduction from your personal property taxes. To apply, you must submit your latest state inspection receipt for the vehicle with your annual personal property form by February 1 of each year to:
The Commissioner of the Revenue’s Office
P.O. Box 819
Bowling Green, VA 22427
Note, the discount only applies when a copy of your latest state inspection receipt is filed on or before February 1 of each year.
The high mileage assessment reduction will be taken from the National Automobile Dealers Association (NADA) January 1 official guide. The amount of the assessment reduction will vary according to the class and age of the vehicle. The value shown in the NADA mileage table will be adjusted from the assessed value. The personal property tax rate will then be applied to the reduced assessment.
Please note, the high mileage reduction does not apply to motorcycles, motor homes, large trucks or trailers.