Aircrafts, automobiles, trucks, recreational vehicles, motorcycles, trailers, mobile homes, business furniture, fixtures, and equipment. 

The Commissioner of the Revenue is required by law to assess vehicles by means of a recognized pricing guide.  The pricing guides utilized by the City of Lexington are the National Automobile Dealers Association Official used car guide and the official older used car guide.  The clean trade in value is taken from these books.  If a vehicle is not listed in the guide, the assessment will be based on 85% of the purchase cost.  The pricing guide utilized for motorcycles is the National Automobile Dealers Association Motorcycle appraisal guide.  The value taken is clean trade in.

The personal property tax rate is established by the Lexington City Council.  The tax is figured by multiplying the property’s assessed value by the tax rate.  The current personal property tax rate is $4.25 per $100 of assessed value.  Mobile homes are assessed as personal property but are taxed at the real estate rate which is currently $.78 per $100 of assessed value.

The City of Lexington is one of several localities in Virginia with the authority to collect personal property taxes on a pro-rated basis.  In general terms, a vehicle’s tax will be prorated on a monthly basis based on the number of months it has a situs in the City of Lexington or is owned by the taxpayer. 

If you move out of state or into another prorating locality in Virginia or sell your vehicle, you are eligible to have your personal property tax bill prorated.  You will receive a refund of taxes paid for the portion of the year your vehicle was not located in Lexington.  If you move after January 1 of the tax year to a non-prorating locality you must pay the City of Lexington for the entire year.  If you move to a prorating locality in Virginia a credit or refund from the City of Lexington will not be given until our office has verified that personal property tax was paid to your new locality.  If you have disposed of your vehicle you must contact our office and let us know who you sold it to and when. 

Personal property registrations may be filed by mail or in person at the Commissioner of Revenue’s Office in City Hall.  You must register your vehicle with the Commissioner of the Revenue’s office as soon as you garage the vehicle in Lexington.

The first half of Personal property tax bills are due June 5 and the second half are due December 5.  Due dates for Tax bills for vehicles registered after April 1st will vary.  The Commissioner of Revenue’s office will inform you of the due dates when you register your vehicle. 

Effective January 1, 2010, City decals are no longer required.

The Virginia Department of Motor Vehicles and the Commissioner of the Revenue must be notified immediately.  This is the responsibility of the citizen, not that of the motor vehicle dealer or new owner.

Under the Soldiers’ and Sailors’ Relief Act, active duty military personnel are subject to state and local taxation only in their home of record.  If you maintain the City of Lexington as your legal residence you would be liable for personal property tax regardless of where you may be stationed or where your vehicle may be garaged or located during the tax year.  If you are in Lexington by virtue of military orders, you would not be liable for personal property tax provided the vehicle is registered in your name only.  Any vehicles registered jointly with a non-military member or any leased vehicles would be subject to personal property tax in the City of Lexington.  However, if a vehicle is registered in the military person and spouse's name, and the spouse can show proof that he or she has the same domicile as the military person, the vehicle will not be taxed by the City of Lexington. Any service member requesting an exemption from personal property tax will be required to submit a copy of recent leave and earnings statement.

If you are a full-time student attending an institution of higher learning in Lexington and the vehicle is registered in your name only, you would not be liable here if you are paying a personal property tax on the vehicle in your domicile.  If the vehicle is registered jointly with or owned solely by a non-student, you would not be liable here if you show proof you are paying a personal property tax on the vehicle in the owner's domicile. If you are a resident of Lexington attending college elsewhere, you are liable for personal property tax here. 

If you bring in documentation, i.e. service bill, inspection sheet showing mileage prior to February 1 each year, or bring the vehicle to City Hall for Commissioner's office personnel to verify mileage by February 1 of each year, consideration will be made for high mileage.