Virginia HB960 establishes valuation methods for personal property taxes, effective July 1, 2027.
Virginia HB960 sets specific valuation methods for various categories of personal property for tax purposes. It includes methods such as using recognized pricing guides or percentages of original cost for items like motorcycles, aircraft, and computer equipment. The bill also allows for adjustments based on the condition of the property and mileage for certain vehicles. The provisions of this act become effective July 1, 2027.
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