What is Personal Property Tax Relief or PPTRA?
The State of Virginia has allocated funds to provide tax relief for qualifying vehicles in the County of Henrico. The amount of tax relief is based upon the total dollars from the Commonwealth divided by the total tax of all qualifying vehicles in the County. The 2005 General Assembly capped the total cost of tax relief for the Commonwealth of Virginia at $950 million. It is possible that the portion of the total personal property tax on your vehicle that you have to pay may increase as the number of qualified vehicles in Henrico County increases. What is the current rate of PPTRA reimbursement in Henrico? The rate is 61% for 2007. What is a qualifying vehicle? Any passenger car, motorcycle, pickup or panel truck having a registered gross weight of less than 7,501 pounds. Furthermore, the vehicle must be owned or leased by an individual and NOT used for business purposes. A leased vehicle for personal (non-business) use will also qualify when the lessee is responsible for payment of th
