The Craig County Board of Supervisors approved a resolution establishing the allocation percentage for personal property tax relief for the 2026 tax year during its August regular meeting.
Resolution R26-65 provides personal property tax relief for qualifying personal-use vehicles registered in Craig County.
Under the resolution, qualifying personal-use vehicles valued at $1,000 or less will receive enough tax relief to eliminate the personal property tax.
Vehicles valued between $1,001 and $20,000 will receive a 25.85% tax relief rate, applied to the first $20,000 of value. Qualifying personal-use vehicles valued at $20,001 or more will also receive a 25.85% tax relief rate on the first $20,000 of value.
The resolution defines qualifying vehicles as personal-use vehicles. Other vehicles that do not meet the definition, including business-use vehicles, farm-use vehicles and motor homes, will not be eligible for tax relief under the resolution.
The percentages were established based on the anticipated use of all available Personal Property Tax Relief Act funds allocated to Craig County by the Commonwealth of Virginia.
The resolution also states that entitlement to personal property tax relief for qualifying vehicles for tax years 2005 and prior tax years will expire Sept. 1, 2006, or when state funding for tax relief is exhausted or depleted. Supplemental assessments for tax years 2005 and prior that are made on or after Sept. 1, 2006, are deemed non-qualifying for purposes of state tax relief.
The resolution became effective upon adoption.
Board Chairman Jesse Spence introduced the motion. Supervisor Carl Bailey moved for approval, with Vice Chairman Jordan Labiosa seconding the motion.
Supervisors Labiosa, Brian Lipes, Raymond Christian, Bailey and Spence voted in favor of the resolution.
-The New Castle Record
