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 was approved by the Virginia House of Delegates.
Working with Virginia hobbyist groups, SEMA negotiated amendments with the bill’s sponsor to 1) totally exempt all vehicles 25 years old and older from the license tax that are undergoing restoration or repair, and 2) extend the exemption to all other vehicles (including parts cars) undergoing restoration or repair that are stored on private property for fewer than 60 days. Vehicles stored within a structure would remain exempted from the tax.
Under current law, all vehicles, even those 25 years old and older, are subject to the license tax. The bill will now move to the Virginia Senate, but has not yet been assigned to a policy committee for consideration.
For details, contact Steve McDonald at stevem@sema.org.