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Posted on: August 24, 2022

Personal Property Tax Rate Reduction

PRESS RELEASE

King William County Board of Supervisors
 Reduces Personal Property Tax Rate

 

On Monday, August 22, 2022, the King William County Board of Supervisors approved a reduction in personal property tax rates on four specific categories of vehicles. Combined County and School Division tax rates on motorcycles, vans, cars, and trucks were reduced by one dollar, from $3.65/$100 to $2.65/$100 for King William citizens living outside the town of West Point. West Point residents will be taxed by the County at a rate of $1.195/$100, a reduction of $0.455, which is the Countywide portion of the combined tax rate. 

 

The Board has been determined to not allow the unprecedented recent increase in value of used vehicles be a tax burden on the citizens of King William. Board Chairman, Ed Moren says he’s very pleased to have worked closely with the Commissioner of the Revenue, Karena L. Funkhouser, to provide a $1.00 personal property tax relief on personal vehicles for this tax year. 

 

“We realize citizens have been deeply impacted by the current economic situation and this action helps nearly every King William citizen keep more of their hard-earned money. This, in addition to the 2.5 cent real estate tax reduction passed earlier this year, shows the Board is listening and remains dedicated to keeping a growing King William County safe, thriving, and moving forward.”

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