Mid Atlantic and Chesapeake Bay - personal propert tax

can someone please explain the personal property tax. my parents live in va but do not have many assets and dont know that much about it.i am going to start looking for some retirement property either in the carolinas, va or georgia. i would like to find the property and not build on it until i retire in approx 10 years. is there any other taxes like this that i should be made aware of thanks

Personal property taxes are a tax levied my individual counties of municipalities to support their local community. The rate varies widely within the state and also varies based on the item being taxed. You'll need to research the area you're looking at moving to in order to determine the rate. Real estate, cars, boats, planes and other real property are the usual items being taxed.

Personal property taxes are a tax levied my individual counties of municipalities to support their local community. The rate varies widely within the state and also varies based on the item being taxed. You'll need to research the area you're looking at moving to in order to determine the rate. Real estate, cars, boats, planes and other real property are the usual items being taxed.


Real estate is not personal property in VA and is taxed at a different rate, normally much lower.

As has been said, personal property AND real estate taxes vary from locality to locality in VA. You need to contact the particular locality of interest for the right info.

"Undeveloped/unimproved" land MAY carry a lesser real estate tax rate than "improved" land (re: "with a home on it" property) - I really don't know?

Also, you may find that some localities MAY have a pp tax on items that OTHER localities DON'T - I think THAT varies, too. Most include cars and boats. Others may include RV's and other rec vehicles? ;?

Most of the pp taxes will prbably be in the range of $3.00+ per $100 of "some" value - the locality can tell you what they use to determine that "value".

Real estate taxes will be "all over the scale" - $0.80+ per $100 of "accessed value", $1.50+ per $100 of "accessed value", etc. - ALL OVER the scale! ;?

Hope this helps a little. :thumbsup:

Regards,

Real estate is not personal property in VA and is taxed at a different rate, normally much lower.

Correct....my bad. But you can count on paying taxes on both (if you own both)! Also, as stated, PP taxes are all over the board. Specific to boats, some counties/cities levy a PP tax on them, while others don't. Hampton, Va and one of the counties around Deltaville (can't remember which one), are boat friendly and don't have taxes on boats....

You can go to any of the cities your thinking about and look up their tax rate.