Residents of Virginia, check your personal property tax bill !
I'm a resident of Prince William County and I just received my personal property tax bill. And discovered that all my motorcycles appreciated in value over the past year, while my automobiles depreciated.
In the past, all my motor vehicles would depreciate in value, hence less tax paid per vehicle.
My wife's 2011 BMW G650GS appreciated $10 from last year.
My 2006 Kawasaki KLX 250S appreciated $5 from last year. $5, REALLY?!
But get this, my 2009 R1200GS appreciated $1,270 from last year! WTF?! An increase of over 12.3%. Maybe I should be investing in motorcycles with that kind of return!
How does a motorcycle that is a year older and with more miles on it go up in assessed value?
I have sent an email to the Prince William County Tax Administration, asking for an explanation. And I will be calling them first thing Monday morning.
Stay tuned and CHECK YOUR BILL.
Ride well,
G.