COVID-19'S IMPACT ON THE VEHICLE VALUATIONS OF 2022

Due to the increase in the value of most vehicles as of January 1, 2022, compared to the previous January 2021 value, the higher values have had an impact on the assessments of personal property throughout the Commonwealth.  The increase in the assessed value affects the personal property tax relief percentage, resulting in the taxpayers paying a higher amount of tax on a vehicle.

During the November 14th, 2022 meeting, the Rich Creek Town Council voted to accept the Giles County Board of Supervisors recommendation to calculate the 2022 Personal Property tax on cars, trucks and motorcycles using an 85% ratio of the assessed book value.  In addition, Town Council also approved lowering the current Personal Property tax rate of $0.625 to $0.575, to provide the Rich Creek taxpayers relief from the inflated values, as well.

Please contact the Town Office, should you have any questions at 540-726-3260.