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Virginia Personal Property Tax Bill

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    Virginia Personal Property Tax Bill

    I am trying to figure out the personal property tax I may deduct. Our state doesn't have Personal Property Taxes so some guidance would be appreciated.

    The VA bill shows Personal Property Tax Bill for $X, less a State Tax Subsidy of $Y and a Decal Fee of $Z. I am assuming I can ignore the decal fee.

    Is the deduction for personal property tax $X or is it $X-$Y?

    #2
    Va ppt

    Originally posted by momona View Post
    I am trying to figure out the personal property tax I may deduct. Our state doesn't have Personal Property Taxes so some guidance would be appreciated.

    The VA bill shows Personal Property Tax Bill for $X, less a State Tax Subsidy of $Y and a Decal Fee of $Z. I am assuming I can ignore the decal fee.

    Is the deduction for personal property tax $X or is it $X-$Y?
    The net tax ($X - $Y) is deductible. The decal fee is not deductible.
    Lennox C. (Len) Boush, EA, FNTPI
    Heritage Income Tax Service, Inc.
    Portsmouth, VA

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