SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2010 SESSION
10100139DBe it enacted by the General Assembly of Virginia:
1. That § 58.1-3523 of the Code of Virginia is amended and reenacted as follows:
§ 58.1-3523. Definitions.
As used in this chapter:
"Commissioner of the revenue" means the same as that set forth in § 58.1-3100. For purposes of this chapter, in a county or city which does not have an elected commissioner of the revenue, "commissioner of the revenue" means the officer who is primarily responsible for assessing motor vehicles for the purposes of tangible personal property taxation.
"Department" means the Department of Motor Vehicles.
"Effective tax rate" means the tax rate imposed by a locality on tangible personal property multiplied by any assessment ratio in effect.
"Leased" means leased by a natural person as lessee and used for nonbusiness purposes.
"Privately owned" means owned by a natural person and used for nonbusiness purposes.
"Qualifying vehicle" means any passenger car as defined in § 46.2-100, any motorcycle, and pickup or panel
truck, as those terms are defined in § 46.2-100, as defined in § 46.2-100, and any motor
vehicle designed to transport
property on its own structure independent of any other vehicle,
that is determined by the commissioner of the revenue of the county or city in
which the vehicle has situs as provided by § 58.1-3511 to be (i) privately
owned; (ii) leased pursuant to a contract requiring the lessee to pay the
tangible personal property tax on such vehicle; or (iii) held in a private
trust for nonbusiness purposes by an individual beneficiary. In determining
whether a vehicle is a qualifying vehicle, the commissioner of revenue must
rely on the registration of such vehicle with the Department pursuant to
Chapter 6 (§ 46.2-600 et seq.) of Title 46.2 or, for leased vehicles, the
information of the Department pursuant to subsections B and C of § 46.2-623,
unless the commissioner of the revenue has information that the Department's
information is incorrect, or to the extent that the Department's information is
incomplete. For purposes of this chapter, all-terrain vehicles and off-road
motorcycles titled with the Department of Motor Vehicles shall not be deemed
qualifying vehicles.
"Tangible personal property tax" means the tax levied pursuant to Article 1 (§ 58.1-3500 et seq.) of Chapter 35 of Title 58.1.
"Tax year" means the 12-month period beginning in the calendar year for which tangible personal property taxes are imposed.
"Treasurer" means the same as that set forth in § 58.1-3123, when used herein with respect to a county or city. When used herein with respect to a town, "treasurer" means the officer who is primarily responsible for the billing and collection of tangible personal property taxes levied upon motor vehicles by such town, and means the treasurer of the county or counties in which such town is located if such functions are performed for the town by the county treasurer or treasurers.
"Used for nonbusiness purposes" means the preponderance of use is for other than business purposes. The preponderance of use for other than business purposes shall be deemed not to be satisfied if: (i) the motor vehicle is expensed on the taxpayer's federal income tax return pursuant to Internal Revenue Code § 179; (ii) more than 50 percent of the basis for depreciation of the motor vehicle is depreciated for federal income tax purposes; or (iii) the allowable expense of total annual mileage in excess of 50 percent is deductible for federal income tax purposes or reimbursed pursuant to an arrangement between an employer and employee.
"Value" means the fair market value determined by the method prescribed in § 58.1-3503 and used by the locality in valuing the qualifying vehicle.