🚀 go-pugleaf

In article <1994Dec15.180718.14880@midway.uchicago.edu>,
Ted Frank <thf2@midway.uchicago.edu> wrote:
>I scoured bookstores in the DC area, and could not find a single book
>to answer this question. Sure, there were cutesy books that mentioned
>that DC has a top rate of 10% and Maryland and Virginia both have top
>rates around 6%, but are these graduated or what? And if so, how much? 
>How big a bite is that Virginia property tax anyway? Is it alright if 
>I don't have a car? Or is it going to nail me on my computer equipment?
>Or are we talking just a handful of dollars?

Virginia tax is 4.5 % of your Federal Adjusted Gross Income (Generally, 
the line at the bottom of the front page on your 1040...).  If you don't 
have a car, a boat, or a plane, you won't get hit on personal property taxes.
As for your computer gear, unless you're in business for yourself, it 
isn't taxed.

BTW, Personal Property Tax rate varies by jurisdiction: Fairfax County 
pays one rate, Arlington County another, Alexandria, Herndon, Vienna, 
Fairfax City, and Falls Chursh all have their own rates. . . .

>Y'know, considering the number of multi-state metropolitan areas out
>there, I'm really surprised that there isn't a single book on this subject.
>If tax differences are really 4%, that can easily add up to hundreds and
>thousands of dollars a year.

Well, Personal Propterty Tax is based on assesed value, and there 
probably IS an income tax guide, but it's likely a publication for tax 
lawyers, accountants, and similar types......



Keith