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Virginia Bill Threatens Increased Taxes on Vehicle Restoration Projects
SEMA-opposed legislation has been introduced in the Virginia State Legislature that threatens to provide localities with the authority to raise from $100 to $500 the amount they may charge for an annual license tax for vehicles that do not display current license plates and are not exempted from this requirement.
Among the exempted vehicles are parts cars that are stored on private property for fewer than 60 days. However, we believe that this bill represents an opportunity for localities to sidestep local zoning laws that were designed to protect vehicles being restored on private property and incentivizes collection of a substantial tax on owners of long-term restoration projects.