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1997 SESSION

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HB 2177 Personal property taxation of antique motor vehicles.

Introduced by: W. Tayloe Murphy, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Personal property taxation of antique motor vehicles. Classifies antique motor vehicles which may not be used for general transportation purposes as a class of household goods and personal effects. Localities may exempt all household goods and personal effects from personal property taxation. An antique motor vehicle is an automobile, motorcycle or other self-propelled vehicle manufactured not less than 25 years previously and owned solely as a collector's item. Unless additional requirements regarding inspection and annual registration are met, antique motor vehicles may be used only for participation in club activities, parades, and similar events; for transportation to and from such events; and for testing their operation and obtaining repairs. An antique motor vehicle which satisfies the additional requirements for use for general transportation purposes will not constitute a household good or personal effect, and is in a separate classification of personal property for assessment and rate purposes.


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