Legislation that originally threatened to provide localities with the authority to raise from $100 to $500 the amount charged for an annual license tax for vehicles that do not display current license plates will be amended by the Virginia House Counties, Cities and Towns Committee. Working with Virginia hobbyist groups, SEMA successfully negotiated an amendment with the bill’s sponsor that would totally exempt all vehicles 25 years old and older from the license tax and limit the tax to $100 for all other vehicles undergoing active restoration or repair.
Parts cars that are stored on private property for fewer than 60 days would remain exempted. Under current law, all vehicles, even those 25 years old and older, are subject to the license tax. Under the amendment to this bill, the exemption for cars 25 years old and older and older represents a new benefit to these car owners.
More information is available. For details, contact Steve McDonald at stevem@sema.org.