Both district and city taxpayers will receive even less government relief on the increasingly unpopular car tax this year, as car values are rising rapidly due to supply and demand.
Culpeper City Taxpayers receive a 19 percent reduction in annual property taxes paid in ’21-22 based on vehicle value. That is a relief of 21 percent in 2017.
Culpeper County’s taxpayers will get 23 percent off tax that the state government promised but never did more than a decade ago.
The district’s discharge rate was 26 percent last year, said Finance Commissioner Terry Yowell to the board of directors at its most recent meeting.
“If any of you have bought or sold a car since March 2020, it will come as no surprise that the used and new car market has grown dramatically,” she said.
More than 6,700 existing vehicles in the county were rated higher for the same vehicle this year than last year, Yowell said, an unusually high number she said.
“All three of me went up this year, in years 2011-18,” she said.
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Some retailers and manufacturers closed and started manufacturing ventilators in the early days of COVID, Yowell said.
According to JD Power, the used car market had grown by more than 10 percent through June. Valuations have seen a corresponding surge, she said.