Sinc e 193 7 TAX FOUNDATION October 1997, No. 73 Impact of Virginia's Gubernatorial Personal Property Tax Relief Plans Vary Widely by Locality By Patrick Fleenor Economis t Tax Foundation As part of their respective campaigns for governor, both Republican James Gilmore and Democrat Donald Beyer have promised Virginian's relief from their personal property taxes. Often lost in all of the talk of exemptions, tax credits, and phase-ins, however, is the actual size of the tax savings under each plan. For the benefit of Virginia's voters the Ta x Foundation has conducted an analysis of eac h of the proposals for owners of four popular vehicles. The results of this analysis are illustrated in Figure 1. The two bars on the left-han d side of each graph represent tax savings under the Beyer plan for the typical owner of each of the vehicles. The first bar represents tax savings for single individuals with adjusted gros s income of less than $40,000. The second ba r represents the tax savings for married couples with adjusted gross incomes of less tha n $75,000. These are the income thresholds below which taxpayers are eligible for the ta x credit in the Beyer plan. Gilmore intends on gradually phasing in his plan during fiscal years 1999-2003. The first four bars of the cluster on the right-hand side of each graph represent tax savings fo r Figure 1 Tax Savings Under Alternative Plans, Statewide Average s 1990 Honda Accord D X $5,950 1996 Ford Taurus G $12,675 1997 Toyota Camry CE V6 1997 Ford Explorer XLT $18,300 $25,82 5 $800- $800 - $80 0 0D 1.0 $60 0 $40 0 CO 10 M N. \Jt 1~ -v -1i as 9, 6 -,a rkr ~\ $200 EA co co (fi -ct $0 \~ 0 a CO. Gilmore Beyer Gilmore Source : "Pax Foundation.
SPECIAL 2 REPORT Cities Table 1 Tax Savings Under the Alternate Plan s Example: 1990 Honda Accord DX, Valued at $5,950 Cities Table 2 Example: 1996 Ford Taurus G, Valued at $12,67 5 Beyer Plan Gilmore Plan Beyer Plan Gilmore Pla n Single Married 1st 2n d 3rd 4th Full Impl. Single Married 1s t 2nd 3r d 4t h Virginia 134 150 38 76 126 150 150 Virginia 149 238 42 84 139 334 35 3 Alexandria 150 211 53 107 178 211 211 Alexandria 150 250 59 119 198 476 502 Bedford 67 67 17 34 56 67 67 Bedford 150 159 19 38 63 150 15 9 Bristol 72 72 18 37 61 72 72 Bristol 150 171 20 41 68 162 17 1 Buena Vista 150 189 48 95 159 189 189 Buena Vista 150 250 53 106 177 426 449 Charlottesville 150 169 43 85 142 169 169 Charlottesville 150 250 47 95 158 379 40 0 Chesapeake 150 161 41 81 135 161 161 Chesapeake 150 250 45 90 150 361 38 1 Clifton Forge 135 135 34 68 113 135 135 Clifton Forge 150 250 38 76 126 302 31 9 Colonial Heights 141 141 36 71 118 141 141 Colonial Heights 150 250 39 79 132 316 33 3 Covington 150 150 38 76 126 150 150 Covington 150 250 38 76 126 302 31 9 Danville 134 134 34 67 112 134 134 Danville 150 250 38 75 125 300 31 7 Emporia 150 201 51 101 169 201 201 Emporia 150 250 56 113 188 451 47 6 Fairfax 146 146 37 74 123 146 146 Fairfax 150 250 41 82 137 329 348 Falls Church 150 210 53 106 176 210 210 Falls Church 150 250 59 118 196 472 498 Franklin 150 200 50 101 168 200 200 Franklin 150 250 56 113 188 451 47 6 Fredericksburg 150 160 40 81 135 160 160 Fredericksburg 150 250 40 81 135 323 34 1 Galax 63 63 16 32 53 63 63 Galax 134 134 16 32 53 127 13 4 Hampton 150 161 41 81 135 161 161 Hampton 150 250 45 90 150 361 38 1 Harrisonburg 89 89 22 45 75 89 89 Harrisonburg 150 212 25 50 83 200 21 2 Hopewell 123 123 31 62 103 123 123 Hopewell 150 250 34 69 115 275 29 1 Lexington 150 176 44 89 148 176 176 Lexington 150 250 49 99 165 395 41 8 Lynchburg 147 147 37 74 123 147 147 Lynchburg 150 250 41 83 138 330 34 9 Manassas 136 136 34 68 114 136 136 Manassas 150 250 38 76 127 305 32 3 Manassas Park 150 156 39 79 131 156 156 Manassas Park 150 250 44 88 146 350 37 0 Martinsville 77 77 19 39 65 77 77 Martinsville 150 183 22 43 72 173 18 3 Newport News 150 167 42 84 140 167 167 Newport News 150 250 47 94 156 374 39 5 Norfolk 150 161 41 81 135 161 161 Norfolk 150 250 45 90 150 361 38 1 Norton 82 82 21 42 69 82 82 Norton 150 196 23 46 77 185 19 6 Petersburg 150 173 44 87 145 173 173 Petersburg 150 250 48 97 162 388 41 0 Poquoson 150 181 46 91 152 181 181 Poquoson 150 250 51 101 169 406 42 9 Portsmouth 150 175 44 88 147 175 175 Portsmouth 150 250 49 98 163 392 41 4 Radford 95 95 24 48 80 95 95 Radford 150 226 27 54 89 214 22 6 Richmond 150 165 42 83 138 165 165 Richmond 150 250 46 93 154 370 39 1 Roanoke 142 142 36 71 119 142 142 Roanoke 150 250 40 79 132 317 33 5 Salem 129 129 32 65 108 129 129 Salem 150 250 36 72 120 289 30 5 Staunton 119 119 30 60 100 119 119 Staunton 150 250 30 60 100 240 25 4 Suffolk 150 171 43 86 144 171 171 Suffolk 150 250 48 96 160 383 40 5 Virginia Beach 149 149 38 75 125 149 149 Virginia Beach 150 250 42 83 139 334 35 2 Waynesboro 149 149 38 75 125 149 149 Waynesboro 150 250 38 75 125 300 31 7 Williamsburg 141 141 36 71 118 141 141 Williamsburg 150 250 39 79 132 316 33 3 Winchester 150 156 39 79 131 156 156 Winchester 150 250 44 88 146 350 370 Ful l Impl. the typical owner of each vehicle during each year of the phase-in period. The final bar represents tax savings whe n the plan is fully implemented. The analysis generally shows that while the Beyer plan offers more up-front tax relief, the Gilmore plan offers a t least as much savings, and in many cases considerably more, over the longer-term. State and Local Taxes in Virginia The revenue sources of state and local governments ar c segregated in Virginia. The state government exclusivel y taxes income, estates, corporate franchises, gasoline, cigarettes, sales and use, the gross earnings of utilities, insuranc e companies, and intangible personal property. Meanwhile, real estate, tangible personal property, machinery and tools used in a manufacturing or mining business and merchant' s capital are subject to taxation by local governments. Counties and independent cities are separate jurisdictions in Virginia, each levying their own personal property tax using different tax rates and methods of assessment. In addition, some smaller cities and towns levy a personal property tax on top of that levied by the county in which they are located. Figure 2 shows that taxes on personal property are a relatively large source of revenue for local governments in Virginia. During fiscal year 1996 these types of taxes accounted for 9.6 percent of local government revenue. Virginia law exempts from taxation many types of property, such as tha t owned by religious and charitable organizations. In addition, most localities exempt household goods and personal effects. As a result, these taxes are primarily levied on moto r
SPECIAL 3 REPORT Cities Table 3 Example: 1997 'Toyota Camry CE V6, Valued at $18,300 Cities Table 4 Example: 1997 Ford Explorer XLT, Valued at $25,82.5 Beyer Plan Gilmore Plan Beyer Plan Gilmore Pla n Single Married 1st 2n d 3rd 4t h Ful l Impl. Single Married 1s t 2n d 3rd 4t h Virginia 150 247 13 87 144 346 528 Virginia 150 250 44 88 147 353 588 Alexandria 150 250 62 123 206 494 753 Alexandria 150 250 63 126 209 502 83 7 Bedford 150 238 19 39 65 156 238 Bedford 150 250 20 40 66 159 264 Bristol 150 250 21 42 70 168 257 Bristol 150 250 22 43 72 172 287 Buena Vista 150 250 55 110 184 442 674 Buena Vista 150 250 56 112 187 449 749 Charlottesville 150 250 49 98 1 64 393 600 Charlottesville 150 250 50 101 168 402 670 Chesapeake 150 250 47 94 156 374 571 Chesapeake 150 250 48 96 160 383 63 8 Clifton Forge 150 250 39 78 131 314 478 Clifton Forge 150 250 40 80 134 321 53 4 Colonial Heights 150 250 41 82 137 328 500 Colonial Heights 150 250 42 84 140 335 55 8 Covington 150 250 38 76 126 302 461 Covington 150 250 38 76 126 302 504 Danville 150 250 39 78 130 312 476 Danville 150 250 40 79 132 317 52 9 Emporia 150 250 59 117 195 468 714 Emporia 150 250 60 120 199 479 798 Fairfax 150 250 43 85 142 342 521 Fairfax 150 250 43 87 145 348 580 Falls Church 150 250 61 122 204 49(1 747 Falls Church 150 250 62 124 207 498 83 0 Franklin 150 250 58 117 195 468 713 Franklin 150 250 59 119 198 476 79 3 Fredericksburg 150 250 40 81 135 323 492 Fredericksburg 150 250 40 81 135 323 53 8 Galax 150 194 16 32 53 127 194 Galax 150 250 16 32 53 127 21 2 Hampton 150 250 47 94 156 374 57] Hampton 150 250 48 96 160 383 63 8 Harrisonburg 150 250 26 52 87 208 317 llarrisonburg 150 250 26 53 88 211 35 2 Hopewell 150 250 36 71 119 286 435 Iopewell 150 250 36 73 122 292 487 Lexington 150 250 51 103 171 411 626 Lexington 150 250 52 104 174 418 696 Lynchburg 150 250 43 86 143 343 523 Lynchburg 150 250 44 87 145 349 58 1 Manassas 150 250 40 79 132 317 483 Manassas 150 250 40 81 134 322 53 7 Manassas Park 150 250 45 91 152 364 555 Manassas Park 150 250 46 92 154 370 61 7 Martinsville 150 250 22 45 75 180 274 Martinsville 150 250 23 46 77 184 306 Newport News 150 250 49 97 162 388 592 Newport News 150 250 50 99 l66 397 662 Norfolk 150 250 47 94 156 374 571 Norfolk 150 250 48 96 160 383 63 8 Norton 150 250 24 48 80 192 293 Norton 150 250 24 49 81 196 32 6 Petersburg 150 250 50 101 168 403 614 Petersburg 150 250 51 103 172 412 686 Poquoson 150 250 53 105 176 421 642 Poquoson 150 250 54 108 179 431 71 8 Portsmouth 150 250 51 102 170 407 621 Portsmouth 150 250 52 104 173 416 694 Radford 150 250 28 56 93 222 339 Radford 15(1 250 28 57 94 226 377 Richmond 150 250 48 96 ] 60 385 586 Richmond 150 250 49 98 163 391 65 2 Roanoke 150 250 41 82 137 329 502 Roanoke 150 250 42 84 140 337 56 1 Salem 150 250 37 75 125 300 457 Salem 150 250 38 77 128 306 51 1 Staunton 150 250 30 60 100 240 366 Staunton 150 250 30 60 100 240 400 Suffolk 150 250 50 99 166 398 607 Suffolk 150 250 51 102 170 407 678 Virginia Beach 150 250 43 87 144 346 528 Virginia Beach 150 250 44 89 148 354 590 Waynesboro 150 250 38 75 125 300 458 Waynesboro 150 250 38 75 125 300 500 Williamsburg 150 250 41 82 137 328 500 Williamsburg 150 250 42 84 140 335 55 8 Winchester 150 250 45 91 152 364 555 Winchester 150 250 46 92 154 370 617 Ful l ]mpl. vehicles, business furniture and fixtures, and farming equipment. Motor vehicles subject to tax include cars and trucks, boats and other watercraft, recreational vehicles, campers, and trailers. In 1996 approximately 75 percent of personal property taxes came from levies on motor vehicles. Both Candidates Gilmore and Beyer have targeted th e personal property tax, specifically that on personally owne d cars and trucks, as a source of tax relief. However, becaus e the personal property tax is a local, and not a state, tax both have been forced to come up with roundabout methods of reducing its burden. The Gilmore Plan Under the plan put forward by Republican Gilmore loca l governments would continue to assess personal property tax. However, when fully phased-in, the plan would exemp t the first $20,000 of assessed value on personally-owned cars, trucks, and motorcycles from local taxes. Assessed value in excess of $20,000 would still be subject to tax as would business vehicles and other types of personal property. The Gilmore plan would use State revenues to compensate local governments for monies lost as a result of implementing the plan. Gilmore argues that continued economic growth will create revenue surpluses at the state level whic h he will use to finance his plan. Gilmore claims that his plan will reduce taxes by approximately $1.0 billion during the four-year phase-in period and by approximately $620 millio n in every year thereafter. Article continued on page 1 2
Counties Table 1 Tax Savings Under the Alternate Plan s Example: 1990 Honda Accord DX, Valued at $5,950 Single Beyer Plan Married 1st 2nd Gilmore Plan 3rd 4t h Full Impl. Virginia 134 150 38 76 126 150 150 Counties Table 2 1996 Ford Taurus G, Valued at $12,675 Single Beyer Plan Married 1st 2n d Gilmore Pla n 3rd 4th Ful Impl. Virginia 149 238 42 84 139 334 35 3 Accomack Accomac k Chincoteague 126 126 32 64 106 126 126 Chincoteague 150 250 35 71 118 282 298 Lee/Pungoteague 130 130 33 65 109 130 130 Lee/Pungoteague 150 250 36 73 121 290 307 Atlantic 130 130 33 66 110 130 130 Atlantic 150 250 37 73 122 292 309 Metompkin 131 131 33 66 110 131 131 Metompkin 150 250 37 73 122 294 31 1 Albemarle 150 172 43 87 145 172 172 Albemarle 150 250 48 96 161 386 408 Alleghany 124 124 31 62 104 124 124 Alleghany 150 250 31 62 104 250 264 Amelia 131 131 33 66 110 131 131 Amelia 150 250 37 73 122 293 31 0 Amherst 101 101 25 51 85 101 101 Amherst 150 238 28 56 94 225 238 Appomattox 104 104 26 53 88 104 104 Appomattox 150 222 26 53 88 210 222 Arlington 150 177 45 89 149 177 177 Arlington 150 250 50 99 165 397 41 9 Augusta 76 76 19 39 64 76 76 Augusta 150 181 21 43 71 171 18 1 Bath 9 9 2 4 7 9 9 Bath 21 21 3 5 8 20 2 1 Bedford 77 77 20 39 65 77 77 Bedford 150 165 20 39 65 156 16 5 Bland 64 64 16 32 54 64 64 Bland 150 152 18 36 60 144 15 2 Botetourt 107 107 27 54 90 107 107 Botetourt 150 228 27 54 90 216 22 8 Brunswick 137 137 35 69 115 137 137 Brunswick 150 250 38 77 128 307 32 4 Buchanan 78 78 20 40 66 78 78 Buchanan 150 186 22 44 73 176 186 Buckingham 133 133 33 67 112 133 133 Buckingham 150 250 37 74 124 298 31 4 Campbell 97 97 24 49 81 97 97 Campbell 150 206 24 49 81 195 20 6 Caroline 149 149 38 75 125 149 149 Caroline 150 250 38 75 125 300 31 7 Carroll 145 145 36 73 122 145 145 Carroll 150 250 41 81 136 325 34 4 Charles City 137 137 35 69 115 137 137 Charles City 150 250 38 77 128 307 32 4 Charlotte 118 118 30 59 99 118 118 Charlotte 150 250 30 59 99 238 25 1 Chesterfield 145 145 37 73 122 145 145 Chesterfield 150 250 41 81 135 325 34 3 Clarke 150 178 45 90 150 178 178 Clarke 150 250 50 100 167 400 42 3 Craig 101 101 25 51 85 101 101 Craig 150 238 28 56 94 225 23 8 Culpeper 111 111 28 56 93 111 111 Culpeper 150 250 31 63 104 250 26 4 Cumberland 125 125 31 63 105 125 125 Cumberland 150 250 35 70 117 280 29 6 Dickenson 64 64 16 32 54 64 64 Dickenson 150 151 18 36 60 143 15 1 Dinwiddie 150 197 50 99 166 197 197 Dinwiddie 150 250 55 110 184 442 46 7 Essex 141 141 36 71 118 141 141 Essex 150 250 39 79 132 316 33 3 Fairfax 150 203 51 103 171 203 203 Fairfax 150 250 57 114 191 458 483 Fauquier 150 189 48 95 159 189 189 Fauquier 150 250 53 106 177 424 448 Floyd 77 77 19 39 65 77 77 Floyd 150 183 22 43 72 173 18 3 Fluvanna 150 165 42 83 138 165 165 Fluvanna 150 250 46 93 154 370 39 1 Franklin 67 67 17 34 56 67 67 Franklin 150 159 19 38 63 151 15 9 Frederick 150 189 48 95 159 189 189 Frederick 150 250 53 106 177 426 449 Giles 104 104 26 53 88 104 104 Giles 150 222 26 53 88 210 22 2 Gloucester 104 104 26 53 88 104 104 Gloucester 150 222 26 53 88 210 222 Goochland 150 161 41 81 135 161 161 Goochland 150 250 45 90 150 361 38 1 Grayson 40 40 10 20 34 40 40 Grayson 95 95 11 23 38 90 95 Greene 150 198 50 100 166 198 198 Greene 150 250 56 111 186 446 47 1 Greensville 150 200 50 101 168 200 200 Greensville 150 250 56 113 188 451 476 Halifax 75 75 19 38 63 75 75 Halifax 150 160 19 38 63 151 160
Hanover 147 147 37 74 123 147 147 Hanover 150 250 41 82 137 328 347 Henrico 141 141 36 71 118 141 141 Henrico 150 250 39 79 132 316 33 3 Henry- 48 48 12 24 40 48 48 Henry 113 113 13 27 45 107 11 3 Highland 92 92 23 46 77 92 92 Highland 150 196 23 46 77 185 196 Isle of Wight 150 177 45 89 149 177 177 Isle of Wight 150 250 50 99 165 397 41 9 James City 150 161 41 81 135 161 161 James City 150 250 45 90 150 361 38 1 King George 138 138 35 70 116 138 138 King George 150 250 39 78 129 310 32 8 King and Queen 150 157 39 79 132 157 157 King and Queen 150 250 44 88 146 351 37 1 King William 150 169 43 85 142 169 169 King William 150 250 47 95 158 379 400 Lancaster 90 90 23 46 76 90 90 Lancaster 150 193 23 46 76 182 193 Lee 56 56 14 28 47 56 56 Lee 132 132 16 31 52 125 132 Loudoun 150 169 43 85 142 169 169 Loudoun 150 250 47 95 158 379 400 Louisa 76 76 19 38 64 76 76 Louisa 150 180 21 43 71 170 180 Lundenburg 150 156 39 79 131 156 156 Lundenburg 150 250 44 88 146 350 370 Madison 104 104 26 52 87 104 104 Madison 150 221 26 52 87 209 22 1 Mathews 115 115 29 58 97 115 115 Mathews 150 246 29 58 97 233 246 Mecklenburg 66 66 17 33 55 66 66 Mecklenburg 150 155 18 37 61 147 15 5 Middlesex 73 73 18 37 61 73 73 Middlesex 150 155 18 37 61 147 15 5 Montgomery 99 99 25 50 83 99 99 Montgomery 150 233 28 55 92 221 23 3 Nelson 131 131 33 66 110 131 131 Nelson 150 250 37 74 123 295 31 2 New Kent 150 151 38 76 127 151 151 New Kent 150 250 42 85 141 338 35 7 Northampton 150 173 44 87 145 173 173 Northampton 150 250 48 97 162 388 41 0 Northumberland 86 86 22 43 72 86 86 Northumberland 150 183 22 43 72 173 18 3 Nottoway 127 127 32 64 107 127 127 Nottoway 150 250 36 71 118 284 30 0 Orange 131 131 33 66 110 131 131 Orange 150 250 33 66 110 264 27 9 Page 91 91 23 46 76 91 91 Page 150 214 25 51 85 203 21 4 Patrick 56 56 14 28 47 56 56 Patrick 133 133 16 32 53 126 13 3 Pittsylvania 97 97 24 49 81 97 97 Pittsylvania 150 230 27 54 91 218 230 Powhatan 145 145 37 73 122 145 145 Powhatan 150 250 41 81 135 325 343 Prince Edward 129 129 32 65 108 129 129 Prince Edward 150 250 36 72 120 289 30 5 Prince George 150 161 41 81 135 161 161 Prince George 150 250 45 90 150 361 38 1 Prince William 150 165 42 83 138 165 165 Prince William 150 250 46 93 154 370 39 1 Pulaski 67 67 17 34 56 67 67 Pulaski 150 159 19 38 63 150 159 Rappahannock 117 117 29 59 98 117 117 Rappahannock 150 250 33 65 109 262 27 6 Richmond 141 141 36 71 118 141 141 Richmond 150 250 39 79 132 316 33 3 Roanoke 141 141 36 71 118 141 141 Roanoke 150 250 39 79 132 316 33 3 Rockbridge 141 141 36 71 118 141 141 Rockbridge 150 250 39 79 132 316 33 3 Rockingham 113 113 28 57 95 113 113 Rockingham 150 250 32 63 105 252 26 7 Russell 58 58 15 29 49 58 58 Russell 138 138 16 33 54 131 13 8 Scott 48 48 12 24 41 48 48 Scott 114 114 14 27 45 108 11 4 Shenandoah 127 127 32 64 107 127 127 Shenandoah 150 250 36 72 119 286 30 2 Smyth 81 81 20 41 68 81 81 Smyth 150 191 23 45 75 180 19 1 Southampton 150 161 41 81 135 161 161 Southampton 150 250 45 90 150 361 38 1 Spotsylvania 149 149 38 75 125 149 149 Spotsylvania 150 250 38 75 125 300 31 7 Stafford 131 131 33 66 110 131 131 Stafford 150 250 33 66 110 264 27 8 Surry 141 141 36 71 118 141 141 Surry 150 250 39 79 132 316 33 3 Sussex 150 191 48 96 161 191 191 Sussex 150 250 54 107 178 428 45 2 Tazewell 81 81 20 41 68 81 81 Tazewell 150 191 23 45 75 180 19 1 Warren 145 145 36 73 122 145 145 Warren 150 250 41 81 136 325 34 4 Washington 62 62 16 31 52 62 62 Washington 148 148 17 35 58 140 14 8 Westmoreland 101 101 25 51 85 101 101 Westmoreland 150 238 28 56 94 225 23 8 Wise 46 46 12 23 39 46 46 Wise 110 110 13 26 43 104 11 0 Wythe 74 74 19 38 63 74 74 Wythe 150 176 21 42 70 167 17 6 York 150 161 41 81 135 161 161 York 150 250 45 90 150 361 381
Counties Table 3 Example: 1997 Toyota Camry CE V6, Valued at $18,300 Counties Table 4 Tax Savings Under the Alternate Plan s Example: 1997 Ford Explorer XLT, Valued at $25,825 Beyer Plan Gilmore Plan Beyer Plan Gilmore Pla n Single Married 1st 2n d 3r d 4t h Full Impl. Single Married 1st 2n d 3rd 4th Virginia 150 247 43 87 144 346 528 Virginia 150 250 44 88 147 353 58 8 Accomac k Chincoteague 150 250 37 73 122 293 447 Full Impl. Accomac k Chincoteague 150 250 37 75 125 300 49 9 Lee/Pungoteague 150 250 38 75 126 301 460 Lee/Pungoteague 150 250 39 77 128 308 51 4 Atlantic 150 250 38 76 126 303 463 Atlantic 150 250 39 78 129 310 51 7 Metompkin 150 250 38 76 127 305 465 Metompkin 150 250 39 78 130 312 52 0 Albemarle 150 250 50 100 167 401 611 Albemarle 150 250 51 102 171 410 68 3 Alleghany 150 250 31 62 104 250 381 Alleghany 150 250 31 62 104 250 41 7 Amelia 150 250 38 76 127 304 464 Amelia 150 250 39 78 130 311 51 8 Amherst 150 250 29 59 98 234 357 Amherst 150 250 30 60 100 239 39 9 Appomattox 150 250 26 53 88 210 320 Appomattox 150 250 26 53 88 210 35 0 Arlington 150 250 51 103 172 412 628 Arlington 150 250 53 105 175 421 70 2 Augusta 150 250 22 44 74 178 271 Augusta 150 250 23 45 76 182 30 3 Bath 32 32 3 5 9 21 32 Bath 46 46 3 5 9 21 3 5 Bedford 150 238 20 39 65 156 238 Bedford 150 250 20 39 65 156 26 0 Bland 150 228 19 37 62 150 228 Bland 150 250 19 38 64 153 25 5 Botetourt 150 250 27 54 90 216 329 Botetourt 150 250 27 54 90 216 36 0 Brunswick 150 250 40 80 133 318 485 Brunswick 150 250 41 81 136 325 54 2 Buchanan 150 250 23 46 76 183 278 Buchanan 150 250 23 47 78 187 31 1 Buckingham 150 250 39 77 129 309 471 Buckingham 150 250 39 79 132 316 52 6 Campbell 150 250 24 49 81 195 297 Campbell 150 250 24 49 81 195 32 5 Caroline 150 250 38 75 125 300 458 Caroline 150 250 38 75 125 300 50 0 Carroll 150 250 42 84 141 338 515 Carroll 150 250 43 86 143 344 57 3 Charles City 150 250 40 80 133 318 485 Charles City 150 250 41 81 136 325 54 2 Charlotte 150 250 30 59 99 238 362 Charlotte 150 250 30 59 99 238 39 6 Chesterfield 150 250 42 84 140 337 514 Chesterfield 150 250 43 86 144 345 57 4 Clarke 150 250 52 104 173 416 634 Clarke 150 250 53 106 176 423 70 5 Craig 150 250 29 59 98 234 357 Craig 150 250 30 60 100 239 39 9 Culpeper 150 250 32 65 108 260 396 Culpeper 150 250 33 66 110 264 440 Cumberland 150 250 36 73 121 291 444 Cumberland 150 250 37 74 123 296 49 3 Dickenson 150 227 19 37 62 149 227 Dickenson 150 250 19 38 63 152 25 4 Dinwiddie 150 250 57 115 191 459 699 Dinwiddie 150 250 59 117 195 469 78 2 Essex 150 250 41 82 137 328 500 Essex 150 250 42 84 140 335 55 8 Fairfax 150 250 59 119 198 475 724 Fairfax 150 250 60 121 201 483 80 5 Fauquier 150 250 55 110 183 440 671 Fauquier 150 250 56 112 187 450 75 0 Floyd 150 250 22 45 75 180 274 Floyd 150 250 23 46 77 184 30 6 Fluvanna 150 250 48 96 160 385 586 Fluvanna 150 250 49 98 163 391 65 2 Franklin 150 238 20 39 65 156 238 Franklin 150 250 20 40 67 160 26 6 Frederick 150 250 55 110 184 442 674 Frederick 150 250 56 112 187 449 74 9 Giles 150 250 26 53 88 210 320 Giles 150 250 26 53 88 210 35 0 Gloucester 150 250 26 53 88 210 320 Gloucester 150 250 26 53 88 210 35 0 Goochland 150 250 47 94 156 374 571 Goochland 150 250 48 96 160 383 63 8 Grayson 143 143 12 23 39 94 143 Grayson 150 206 12 24 40 96 16 0 Greene 150 250 58 116 193 463 705 Greene 150 250 59 118 196 470 78 4 Greensville 150 250 58 117 195 468 713 Greensville 150 250 59 119 198 476 79 3 Halifax 150 231 19 38 63 151 231 Halifax 150 250 19 38 63 151 252
i Hanover 150 250 43 85 142 341 520 Hanover 150 250 44 87 145 348 58 1 Henrico 150 250 41 82 137 328 500 Henrico 150 250 42 84 140 335 558 Henry 150 170 14 28 46 111 170 Henry 150 245 14 28 47 114 190 Highland 150 250 23 46 77 185 282 Highland 150 250 23 46 77 185 309 Isle of Wight 150 250 51 103 172 412 628 Isle of Wight 150 250 53 105 175 421 702 James City 150 250 47 94 156 374 571 James City 150 250 48 96 160 383 63 8 King George 150 250 40 81 134 322 491 King George 150 250 41 82 137 328 546 King and Queen 150 250 46 91 152 364 555 King and Queen 150 250 47 93 155 372 62 1 King William 150 250 49 98 164 393 600 King William 150 250 50 101 168 402 670 Lancaster 150 250 23 46 76 182 278 Lancaster 150 250 23 46 76 182 304 Lee 150 198 16 32 54 130 198 Lee 150 250 17 33 55 132 22 0 Loudoun 150 250 49 98 164 393 600 Loudoun 150 250 50 101 168 402 67 0 Louisa 150 250 22 44 74 177 269 Louisa 150 250 22 45 75 180 300 Lundenburg 150 250 45 91 152 364 555 Lundenburg 150 250 46 92 154 370 61 7 Madison 150 250 26 52 87 209 318 Madison 150 250 26 52 87 209 348 Mathews 150 250 29 58 97 233 355 Mathews 150 250 29 58 97 233 388 Mecklenburg 150 232 19 38 63 152 232 Mecklenburg 150 250 19 39 65 156 260 Middlesex 150 224 18 37 61 147 224 Middlesex 150 250 18 37 61 147 24 5 Montgomery 150 250 29 57 96 229 350 Montgomery 150 250 29 59 98 235 39 1 Nelson 150 250 38 128 307 468 Nelson 150 250 39 78 130 312 52 0 New Kent 150 250 44 88 146 351 535 New Kent 150 250 45 90 150 359 59 8 Northampton 150 250 50 101 168 403 614 Northampton 150 250 51 103 172 412 68 6 Northumberland 150 250 22 43 72 173 264 Northumberland 150 250 22 43 72 173 28 8 Nottoway 150 250 37 74 123 295 450 Nottoway 150 250 38 75 126 302 50 3 Orange 150 250 33 66 110 264 403 Orange 150 250 33 66 110 264 44 0 Page 150 250 26 53 88 211 321 Page 150 250 27 54 90 215 35 9 Patrick 150 200 16 33 55 131 200 Patrick 150 250 17 33 55 133 22 2 Pittsylvania 150 250 28 57 94 226 345 Pittsylvania 150 250 29 57 96 230 38 3 Powhatan 150 250 42 84 140 337 514 Powhatan 150 250 43 86 144 345 57 4 Prince Edward 150 250 37 75 125 300 457 Prince Edward 150 250 38 128 306 51 1 Prince George 150 250 47 94 156 374 571 Prince George 150 250 48 96 160 383 63 8 Prince William 150 250 48 96 160 385 586 Prince William 150 250 49 98 163 391 65 2 Pulaski 150 238 19 39 65 156 238 Pulaski 150 250 20 40 66 159 26 4 Rappahannock 150 250 34 68 113 271 414 Rappahannock 150 250 35 69 116 278 46 3 Richmond 150 250 41 82 137 328 500 Richmond 150 250 42 84 140 335 55 8 Roanoke 150 250 4I 82 137 328 500 Roanoke 150 250 42 84 140 335 55 8 Rockbridge 150 250 41 82 137 328 500 Rockbridge 150 250 42 84 140 335 55 8 Rockingham 150 250 33 66 109 262 400 Rockingham 150 250 34 67 112 268 44 7 Russell 150 207 17 34 57 136 207 Russell 150 250 17 35 58 139 23 1 Scott 150 171 14 28 47 112 171 Scott 150 247 14 29 48 115 19 1 Shenandoah 150 250 37 74 124 297 453 Shenandoah 150 250 38 76 126 302 50 4 Smyth 150 250 23 47 78 187 286 Smyth 150 250 24 48 80 191 31 9 Southampton 150 250 47 94 156 374 571 Southampton 150 250 48 96 160 383 63 8 Spotsvlvania 150 250 38 75 125 300 458 Spotsylvania 150 250 38 75 125 300 500 Stafford 150 250 33 66 110 264 402 Stafford 150 250 33 66 110 264 43 9 Surry 150 250 41 82 137 328 500 Surry 150 250 42 84 140 335 55 8 Sussex 150 250 56 111 185 445 678 Sussex 150 250 57 114 189 455 758 Tazewell 150 250 23 47 78 187 286 Tazewell 150 250 24 48 80 191 31 9 Warren 150 250 42 84 141 338 515 Warren 150 250 43 86 143 344 57 3 Washington 150 221 18 36 60 145 221 Washington 150 250 19 37 62 148 247 Westmoreland 150 250 29 59 98 234 357 Westmoreland 150 250 30 60 100 239 399 Wise 150 164 13 27 45 108 164 Wise 150 237 14 28 46 110 18 3 Wythe York 15 0 150 25 0 250 2 2 47 4 3 94 7 2 156 17 3 374 26 4 571 Wythe York 15 0 150 25 0 250 2 2 48 4 4 96 74 160 17 7 383 29 5 638
Towns Table 1 Towns Table 2 Tax Savings Under the Alternate Plan s Example: 1990 Honda Accord DX, Valued at $5,950 1996 Ford Taurus G, Valued at $12,675 Bever Plan Gilmore Plan Bever Plan Gilmore Pla n 1s t 2nd 3rd 4th Ful l 1s t 2nd 3rd 4t h Single Married Impl. Single Marrie d Virginia 134 150 38 76 126 150 150 Virginia 149 238 42 84 139 334 35 3 Abington 85 85 21 43 71 85 85 Abington 150 200 24 47 79 189 20 0 Accomac 134 134 34 67 112 134 134 Accomac 150 250 37 75 125 299 31 6 Altavista 150 156 39 79 131 156 156 Altavista 150 250 39 79 131 315 33 3 Amherst 115 115 29 58 96 115 115 Amherst 150 250 32 64 107 257 27 1 Appomattox 120 120 30 61 101 120 120 Appomattox 150 250 30 61 101 243 25 7 Ashland 150 183 46 92 154 183 183 Ashland 150 250 51 102 171 409 43 2 Berryville 150 223 56 112 187 223 223 Berryville 150 250 63 125 209 501 52 9 Big Stone Gap 71 71 18 36 60 71 71 Big Stone Gap 150 169 20 40 67 160 169 Blackstone 150 153 39 77 129 153 153 Blackstone 150 250 43 86 143 343 362 Bloxom 137 137 35 69 115 137 137 Bloxom 150 250 38 77 128 308 325 Bluefield 105 105 26 53 88 105 105 Bluefield 150 248 29 59 98 234 248 Boones Mill 91 91 23 46 76 91 91 Boones Mill 150 210 25 50 83 199 210 Bowling Green 150 177 45 89 149 177 177 Bowling Green 150 250 45 89 149 358 378 Boyce 150 205 52 103 172 205 205 Boyce 150 250 58 115 192 461 486 Boydton 101 101 25 51 85 101 101 Boydton 150 238 28 56 94 226 238 Boykins 150 209 53 106 176 209 209 Boykins 150 250 59 117 195 469 495 Branchville 150 186 47 94 156 186 186 Branchville 150 250 52 104 173 416 439 Bridgewater 143 143 36 72 120 143 143 Bridgewater 150 250 40 80 133 320 338 Broadway 133 133 34 67 112 133 133 Broadway 150 250 37 75 124 298 31 5 Brodnax 150 177 45 89 149 177 177 Brodnax 150 250 50 99 165 397 41 9 Brookneal 147 147 37 74 124 147 147 Brookneal 150 250 37 74 124 297 31 4 Burkeville 150 153 39-7 129 153 153 Burkeville 150 250 43 86 143 344 36 3 Capron 150 201 51 101 169 201 201 Capron 150 250 56 113 188 451 47 6 Cedar Bluff 95 95 24 48 79 95 95 Cedar Bluff 150 224 26 53 88 212 22 4 Chase City 111 111 28 56 94 111 111 Chase City 150 250 31 62 104 249 26 3 Chatham 142 142 36 71 119 142 142 Chatham 150 250 40 80 133 319 33 7 Chilhowie 89 89 22 45 74 89 89 Chilhowie 150 210 25 50 83 198 21 0 Chincoteague 150 160 40 81 135 160 160 Chincoteague 150 250 45 90 150 359 37 9 Christiansburg 117 117 29 59 98 117 117 Christiansburg 150 250 33 65 109 262 27 6 Claremont 150 165 42 83 139 165 165 Claremont 150 250 46 92 154 370 39 1 Clarksville 118 118 30 60 99 118 118 Clarksville 150 250 33 66 110 265 280 Cleveland 78 78 20 40 66 78 78 Cleveland 150 186 22 44 73 176 186 Clintwood 65 65 16 33 55 65 65 Clintwood 150 154 18 37 61 146 15 4 Coeburn 62 62 16 31 52 62 62 Coebum 148 148 17 35 58 140 148 Colonial Beach 150 181 46 91 152 181 181 Colonial Beach 150 250 51 101 169 406 429 Crewe 150 167 42 84 140 167 167 Crewe 150 250 47 94 156 374 395 Culpeper 147 147 37 74 123 147 147 Culpeper 150 250 41 83 138 330 349 Damascus 89 89 22 45 74 89 89 Damascus 150 210 25 50 83 198 21 0 Dillwyn 144 144 36 73 121 144 144 Dillwyn 150 250 40 81 135 323 34 1 Drakes Branch 139 139 35 70 117 139 139 Drakes Branch 150 250 35 70 117 281 29 7 Dublin 89 89 22 45 75 89 89 Dublin 150 212 25 50 83 200 21 2 Eastville 150 183 46 92 154 183 183 Eastville 150 250 51 103 171 410 43 3 Edinburg 150 161 40 81 135 161 161 Edinburg 150 250 45 90 151 361 38 2 Elkton 131 131 33 66 110 131 131 Elkton 150 250 37 73 122 294 31 1 Floyd 87 87 22 44 73 87 87 Floyd 150 207 24 49 82 196 20 7 Fries 97 97 24 49 81 97 97 Fries 150 229 27 54 90 216 22 9 Front Royal 150 171 43 86 144 171 171 Front Royal 150 250 48 96 161 385 40 7 Glade Spring 70 70 18 36 59 70 70 Glade Spring 150 167 20 39 66 158 167 Glasgow 150 171 43 86 144 171 171 Glasgow 150 250 48 96 160 383 405 Glen Lyn 119 119 30 60 100 119 119 Glen Lyn 150 250 30 60 100 240 25 4 Gordonsville 150 179 45 90 150 179 179 Gordonsville 150 250 45 90 150 360 380 Gretna 117 117 29 59 98 117 117 Gretna 150 250 33 66 110 263 278 Grottoes 92 92 23 46 77 92 92 Grottoes 150 218 26 52 86 206 21 8 Grundy 99 99 25 50 83 99 99 Grundy 150 233 28 55 92 221 233 Halifax 123 123 31 62 103 123 123 Halifax 150 250 31 62 103 247 26 1 Hallwood 149 149 38 75 125 149 149 Hallwood 150 250 42 83 139 334 352 Hamilton 150 213 54 108 179 213 213 Hamilton 150 250 60 119 199 478 50 5 Haymarket 150 191 48 96 161 191 191 Haymarket 150 250 54 108 179 431 45 5 Haysi 73 73 18 37 61 73 73 Haysi 150 170 20 40 67 161 170 Hillsville 150 173 44 87 145 173 173 Hillsville 150 250 49 97 162 389 410 Ful l Impl. 00
Hurt 130 130 33 66 109 130 130 Hurt 150 250 37 73 122 293 309 Iron Gate 145 145 36 73 122 145 145 Iron Gate 150 250 36 73 122 292 308 Ivor 150 181 46 91 152 181 181 Ivor 150 250 51 101 169 406 429 Jonesville 67 67 17 34 56 67 67 Jonesville 150 159 19 38 63 150 159 Kenbridge 150 211 53 107 178 211 211 Kenbridge 150 250 59 119 198 476 502 Keysville 150 153 39 77 129 153 153 Keysville 150 250 39 77 129 309 326 Kilmarnock 100 100 25 50 84 100 100 Kilmarnock 150 213 25 50 84 202 21 3 LaCrosse 83 83 21 42 70 83 83 LaCrosse 150 197 23 47 78 186 197 Lawrenceville 150 209 53 106 176 209 209 Lawrenceville 150 250 59 117 195 469 495 Lebanon 78 78 20 40 66 78 78 Lebanon 150 186 22 44 73 176 186 Leesburg 150 209 53 106 176 209 209 Leesburg 95 250 59 117 195 469 495 Louisa 107 107 27 54 90 107 107 Louisa 150 250 30 60 101 241 255 Luray 107 107 27 54 90 107 107 Luray 150 250 30 60 100 239 252 Marion 92 92 23 46 77 92 92 Marion 150 218 26 52 86 207 21 8 McKenny 150 217 55 110 183 2I7 217 McKenny 150 250 61 122 203 487 51 4 Melfa 138 138 35 69 116 138 138 Melfa 150 250 39 129 308 326 Middleburg 150 209 53 106 176 209 209 Middleburg 150 250 59 117 195 469 495 Middletown 150 245 62 123 206 245 245 Middletown 150 250 69 138 229 551 582 Mineral 95 95 24 48 80 95 95 Mineral 150 226 27 54 89 214 22 6 Mount Crawford 121 121 30 61 101 121 121 Mount Crawford 150 250 34 68 113 271 286 Mount Jackson 150 161 40 81 135 161 161 Mount Jackson 150 250 45 90 151 361 382 Narrows 150 160 40 81 134 160 160 Narrows 150 250 40 81 134 323 34 1 New Market 150 163 41 82 137 163 163 New Market 150 250 46 92 153 366 387 Onancock 150 210 53 106 177 210 210 Onancock 150 250 59 118 196 471 497 Onley 136 136 34 68 114 136 136 Onley 150 250 38 76 127 304 32 1 Orange 150 167 42 84 140 167 167 Orange 150 250 42 84 140 336 35 5 Painter 142 142 36 71 119 142 142 Painter 150 250 40 79 132 317 33 5 Pamplin 134 134 34 68 113 134 134 Pamplin 150 250 34 68 113 270 285 Parksley 150 163 41 82 137 163 163 Parksley 150 250 46 92 153 366 387 Pearisburg 150 160 40 81 134 160 160 Pearisburg 150 250 40 81 134 323 34 1 Pembroke 141 141 36 71 119 141 141 Pembroke 150 250 36 71 119 285 30 1 Pennington Gap 67 67 17 34 56 67 67 Pennington Gap 150 159 19 38 63 150 15 9 Pocahontas 117 117 29 59 98 117 117 Pocahontas 150 250 33 65 109 262 276 Pound 64 64 16 32 54 64 64 Pound 150 151 18 36 60 143 15 1 Pulaski 100 100 25 50 84 100 100 Pulaski 150 237 28 56 93 224 23 7 Purcellville 150 211 53 107 178 211 211 Purcellville 150 250 59 118 197 473 500 Remington 150 156 39 78 131 156 156 Remington 150 250 44 87 146 349 369 Rich Creek 141 141 36 71 119 141 141 Rich Creek 150 250 36 71 119 285 30 1 Rocky Mount 88 88 22 44 74 88 88 Rocky Mount 150 208 25 49 82 197 20 8 Round Hill 150 215 54 109 181 215 215 Round Hill 150 250 60 121 201 482 51 0 Rural Retreat 94 94 24 48 79 94 94 Rural Retreat 150 224 26 53 88 212 22 4 Saint Paul 59 59 15 30 49 59 59 Saint Paul 139 139 16 33 55 132 13 9 Saltville 101 101 25 51 85 101 101 Saltville 150 238 28 56 94 225 23 8 Saxis 140 140 35 71 118 140 140 Saxis 150 250 39 79 131 315 33 2 Shenandoah 104 104 26 52 87 104 104 Shenandoah 150 246 29 58 97 233 246 Smithfield 150 217 55 110 183 217 217 Smithfield 150 250 61 122 203 487 51 4 South Boston 150 159 40 80 134 159 159 South Boston 150 250 40 80 134 322 340 South Hill 108 108 27 54 91 108 108 South Hill 150 250 30 60 101 241 25 5 Stanley 107 107 27 54 90 107 107 Stanley 150 250 30 60 100 239 25 2 Stephens City 150 234 59 118 196 234 234 Stephens City 150 250 66 131 219 526 55 5 Stony Creek 150 215 54 109 181 215 215 Stony Creek 150 250 60 121 201 482 51 0 Strasburg 150 177 45 89 148 177 177 Strasburg 150 250 50 99 166 397 42 0 Stuart 105 105 26 53 88 105 105 Stuart 150 250 30 59 98 236 25 0 Surry 150 165 42 83 139 165 165 Surly 150 250 46 92 154 370 39 1 Tangier 150 250 109 218 363 432 432 Tangier 150 250 121 242 404 969 1,02 3 Tappahannock 150 191 48 96 161 191 191 Tappahannock 150 250 54 107 178 428 45 2 Tazewell 101 101 25 51 85 101 101 Tazewell 150 238 28 56 94 225 23 8 The Plains 150 205 52 104 173 205 205 The Plains 150 250 57 115 192 460 48 6 Timberville 125 125 31 63 105 125 125 Timberville 150 250 35 70 I16 280 29 5 Urbanna 86 86 22 44 73 86 86 Urbanna 150 184 22 44 73 174 18 4 Victoria 150 199 50 101 168 199 199 Victoria 150 250 56 112 187 449 47 4 Vinton 150 181 46 91 152 181 181 Vinton 150 250 51 101 169 406 42 9 Virgilina 87 87 22 44 73 87 87 Virgilina 150 185 22 44 73 175 18 5 Wakefield 150 226 57 114 190 226 226 Wakefield 150 250 63 126 211 506 53 4 Warrenton 150 250 72 144 240 286 286 Warrenton 150 250 80 160 267 640 67 6 Warsaw 150 165 42 83 139 165 165 Warsaw 150 250 46 92 154 370 39 1 Waverly 150 250 67 134 223 266 266 Waverly 150 250 74 149 248 595 62 9 West Point 150 250 76 152 254 302 302 West Point 150 250 85 169 282 676 71 4 Windsor 150 197 50 99 166 197 197 Windsor 150 250 55 110 184 442 46 7 Wise 68 68 17 34 57 68 68 Wise 150 160 19 38 63 151 160 Woodstock 150 167 42 84 141 16-167 Woodstock 150 250 47 94 157 376 398 Wytheville 87 87 22 44 73 87 87 Wytheville 150 206 24 49 81 195 206
Towns Table 3 Towns Table 4 Example: 1997 Toyota Camry CE V6, Valued at $18,300 Example: 1997 Ford Explorer XLT, Valued at $25,82 5 Beyer Plan Gilmore Plan Beyer Plan Gilmore Plan 1st 2nd 3rd 4th Ful l 1st 2nd 3rd 4th Ful l Single Married Impl. Single Married Yea r Impl. Virginia 150 247 43 87 144 346 528 Virginia 150 250 44 88 147 353 58 8 Abington 150 250 25 49 82 197 300 Abington 150 250 25 50 84 201 33 5 Accomac 150 250 39 78 129 311 474 Accomac 150 250 40 79 132 318 53 0 Altavista 150 250 39 79 131 315 480 Altavista 150 250 39 79 131 315 52 5 Amherst 150 250 33 67 111 267 407 Amherst 150 250 34 68 114 273 45 5 Appomattox 150 250 30 61 101 243 371 Appomattox 150 250 30 61 101 243 40 5 Ashland 150 250 53 106 177 425 648 Ashland 150 250 54 109 181 435 72 4 Berryville 150 250 65 130 217 520 793 Berryville 150 250 66 132 220 529 88 1 Big Stone Gap 150 250 21 41 69 166 253 Big Stone Gap 150 250 21 42 71 1 69 282 Blackstone 150 250 44 89 148 356 542 Blackstone 150 250 45 91 152 364 606 Bloxom 150 250 40 80 133 319 487 Bloxom 150 250 41 82 136 326 544 Bluefield 150 250 30 61 101 243 371 Bluefield 150 250 31 62 104 249 41 5 Boones Mill 150 250 26 51 85 204 312 Boones Mill 150 250 26 52 87 208 346 Bowling Green 150 250 45 89 149 358 545 Bowling Green 150 250 45 89 149 358 596 Boyce 150 250 60 120 199 478 729 Boyce 150 250 61 122 203 486 810 Boydton 150 250 29 59 98 234 357 Boydton 150 250 30 60 100 240 399 Boykins 150 250 61 122 203 487 742 Boykins 150 250 62 124 207 498 830 Branchville 150 250 54 108 180 432 658 Branchville 150 250 55 110 184 447 735 Bridgewater 150 250 42 83 138 332 507 Bridgewater 150 250 42 85 142 340 566 Broadway 150 250 39 129 310 473 Broadway 150 250 40 79 132 317 52 8 Brodnax 150 250 51 103 172 412 628 Brodnax 150 250 53 105 175 421 702 Brookneal 150 250 37 74 124 297 453 Brookneal 150 250 37 74 124 297 495 Burkeville 150 250 45 89 149 357 544 Burkeville 150 250 46 91 I52 365 608 Capron 150 250 59 117 195 468 714 Capron 150 250 60 120 199 479 798 Cedar Bluff 150 250 27 55 92 220 335 Cedar Bluff 150 250 28 56 94 225 375 Chase City 150 250 32 65 108 259 395 Chase City 150 250 33 66 110 265 44 1 Chatham 150 250 41 83 138 331 505 Chatham 150 250 42 84 140 336 56 1 Chilhowie 150 250 26 51 86 206 314 Chilhowie 150 250 26 53 88 211 35 1 Chincoteague 150 250 47 93 155 373 568 Chincoteague 150 250 48 95 159 381 63 5 Christiansburg 150 250 34 68 113 271 414 Christiansburg 150 250 35 69 116 278 463 Claremont 150 250 48 96 160 384 585 Claremont 150 250 49 98 164 392 65 4 Clarksville 150 250 34 69 115 275 420 Clarksville 150 250 35 70 117 281 469 Cleveland 150 250 23 46 76 183 278 Cleveland 150 250 23 47 78 187 31 1 Clintwood I50 231 19 38 63 152 231 Clintwood 150 250 19 39 65 155 25 8 Coebum 150 221 18 36 60 145 221 Coebum 150 250 19 37 62 148 247 Colonial Beach 150 250 53 105 176 421 642 Colonial Beach 150 250 54 108 179 431 71 8 Crewe 150 250 49 97 162 388 592 Crewe 150 250 50 99 166 39' 66 2 Culpeper 150 250 43 86 143 343 523 Culpeper 150 250 44 87 145 349 58 1 Damascus 150 250 26 51 86 206 314 Damascus 150 250 26 53 88 211 35 1 Dlllwyn 150 250 42 84 140 335 511 Dillwyn 150 250 43 86 143 343 57 1 Drakes Branch 150 250 35 70 117 281 429 Drakes Branch 150 250 35 70 117 281 469 Dublin 150 250 26 52 87 208 317 Dublin 150 250 26 53 88 211 35 2 Eastville 150 250 53 106 177 426 650 Eastville 150 250 54 109 181 436 72 6 Edinburg 150 250 47 94 156 375 572 Edinburg 150 250 48 95 159 382 63 6 Elkton 150 250 38 76 127 305 465 Elkton 150 250 39 78 130 312 52 0 Floyd 150 250 25 51 85 203 310 Floyd 150 250 26 52 87 208 34 6 Fries 150 250 28 56 94 225 343 Fries 150 250 29 57 96 230 38 3 Front Royal 150 250 50 100 167 400 610 Front Royal 150 250 51 102 170 407 67 8 Glade Spring 150 250 20 41 68 164 250 Glade Spring 150 250 21 42 70 168 27 9 Glasgow 150 250 50 99 166 398 607 Glasgow 150 250 51 102 170 407 67 8 Glen Lyn 150 250 30 60 100 240 366 Glen Lyn 150 250 30 60 100 240 40 0 Gordonsville 150 250 45 90 150 360 549 Gordonsville 150 250 45 90 150 360 60 0 Gretna 150 250 34 68 114 273 416 Gretna 150 250 35 69 116 277 462 Grottoes 55 250 27 53 89 214 326 Grottoes 150 250 27 55 91 219 36 5 Grundy 150 250 29 57 96 229 350 Grundy 150 250 29 59 98 235 39 1 Halifax 150 250 31 62 103 247 377 Halifax 150 250 31 62 103 247 41 2 Hallwood 150 250 43 87 144 346 528 Hallwood 150 250 44 89 148 354 590 Hamilton 150 250 62 124 207 496 757 Hamilton 150 250 63 127 211 507 846 Haymarket 150 250 56 112 186 447 682 Haymarket 150 250 57 114 189 455 758 Haysi 150 250 21 42 70 167 254 Haysi 150 250 21 43 71 170 284 ilillsville 150 250 50 101 168 403 615 Hillsville 150 250 51 103 171 411 684
Hurt 150 250 38 76 12' 304 464 Hurt 150 250 39 129 309 515 Iron Gate 150 250 36 73 122 292 445 Iron Gate 150 250 36 122 292 487 Ivor 150 250 53 105 176 421 642 Ivor 150 250 54 108 179 431 71 8 Jonesville 150 238 19 39 65 156 238 Jonesville 150 250 20 40 66 159 264 Kenbridge 150 250 62 123 206 494 753 Kenbridge 150 250 63 126 209 502 83 7 Keysville 150 250 39 129 309 471 Keysville 150 250 39 129 309 51 5 Kilmarnock 150 250 25 50 84 202 307 Kilmarnock 150 250 25 50 84 202 33 6 LaCrosse 150 250 24 48 81 193 295 LaCrosse 150 250 25 49 82 198 32 9 Lawrenceville 150 250 61 122 203 4187 742 Lawrenceville 150 250 62 124 207 498 83 0 Lebanon 150 250 23 46 76 183 278 Lebanon 150 250 23 47 78 187 31 1 Leesburg 150 250 61 122 203 487 742 Leesburg 150 250 62 124 207 498 83 0 Louisa 150 250 31 63 104 250 382 Louisa 150 250 32 64 106 255 42 5 Luray 150 250 31 62 103 248 378 Luray 150 250 32 63 106 254 42 3 Marion 150 250 27 54 89 214 327 Marion 150 250 27 55 91 219 365 McKenny 150 250 63 126 211 505 771 McKenny 150 250 65 129 215 517 861 Me1fa 150 250 40 80 133 320 488 Melfa 150 250 41 82 136 327 54 6 Middleburg 150 250 61 122 203 487 742 Middleburg 150 250 62 124 207 498 83 0 Middletown 150 250 71 143 238 572 872 Middletown 150 250 73 145 242 581 969 Mineral 150 250 28 56 93 222 339 Mineral 150 250 28 57 94 226 37 7 Mount Crawford 150 250 35 70 117 281 428 Mount Crawford 150 250 36 72 120 287 47 9 Mount Jackson 150 250 47 94 156 375 572 Mount Jackson 150 250 48 95 159 382 63 6 Narrows 150 250 40 81 134 323 492 Narrows 150 250 40 81 134 323 53 8 New Market 150 250 48 95 159 380 580 Nev., Market 150 250 48 97 161 387 64 5 Onancock 150 250 61 122 204 489 745 Onancock 150 250 62 125 208 500 83 3 Onley 150 250 39 79 131 315 481 Onley 150 250 50 81 134 323 53 8 Orange 150 250 42 84 140 336 512 Orange 150 250 42 84 140 336 56 0 Painter 150 250 41 82 137 329 502 Painter 150 250 42 84 140 33 7 56 2 Pamplin 150 250 34 68 113 270 412 Pamplin 150 250 34 68 113 270 45 0 Parkslev 150 250 48 95 158 380 580 Parksley 150 250 49 97 162 389 64 8 Pearisburg 150 250 40 81 134 323 492 Pearisburg 150 250 40 81 134 323 53 8 Pembroke 150 250 36 71 119 285 435 Pembroke 150 250 36 71 119 285 47 5 Pennington Gap 150 238 19 39 65 t56 238 Pennington Gap 150 250 20 40 66 159 26 4 Pocahontas 150 250 34 68 113 271 414 Pocahontas 150 250 35 69 116 278,46 3 Pound 150 227 19 3-62 149 227 Pound 150 250 19 38 63 152 25 4 Pulaski 150 250 29 58 97 233 355 Pulaski 150 250 30 59 99 237 39 5 Purcellville 150 250 61 123 205 491 749 Purcellville 150 250 63 126 209 503 83 8 Remington 150 250 45 91 151 363 553 Remington 150 250 46 92 154 370 61 6 Rich Creek 150 250 36 119 285 435 Rich Creek 150 250 36 119 285 47 5 Rocky Mount 150 250 26 51 85 204 311 Rocky Mount 150 250 26 52 87 209 34 8 Round Hill 150 250 63 125 209 501 764 Round Hill 150 250 64 128 213 512 85 4 Rural Retreat 150 250 27 55 92 220 335 Rural Retreat 150 250 28 56 94 225 37 4 Saint Paul 150 208 17 34 57 137 208 Saint Paul 150 250 17 35 58 140 23 3 Saltville 150 250 29 59 98 234 357 Saltville 150 250 30 60 100 239 39 9 Saxis 150 250 41 82 136 327 498 Saxis 150 250 42 84 139 334 55 7 Shenandoah 150 250 30 60 101 242 368 Shenandoah 150 250 31 62 103 247 41 2 Smithfield 150 250 63 126 211 505 771 Smithfield 150 250 65 129 215 51' 86 1 South Boston 150 250 40 80 134 322 490 South Boston 150 250 40 80 134 322 53 6 South Hill 150 250 31 63 104 251 382 South Hill 150 250 32 64 107 256,42 7 Stanley 150 250 31 62 103 248 378 Stanley 150 250 32 63 106 254 42 3 Stephens City 150 250 68 136 227 546 832 Stephens City 150 250 69 139 231 555 92 5 Stony Creek 150 250 63 125 209 501 764 Stony Creek 150 250 64 128 213 512 854 Strasburg 150 250 52 103 172 413 629 Strasburg 150 250 52 105 175 420 699 Stuart 150 250 31 61 102 245 374 Stuart 150 250 31 62 104 249 41 6 Surry 150 250 48 96 160 384 585 Surry 150 250 49 98 164 392 65 4 Tangier 150 250 126 251 419 1.005 1533 Tangier 150 250 129 257 428 1028 1,71 3 Tappahannock 130 250 56 111 185 445 678 Tappahannock 150 250 57 114 189 455 758 Tazewell 150 250 29 59 98 234 357 Tazewell 150 250 30 60 100 239 399 The Plains 150 250 60 119 199 477 728 The Plains 1 50 250 61 122 203 488 81 4 Timberville 150 250 36-3 121 290 443 Timberville 150 250 37 74 124 297 49 5 I:rbanna 150 250 22 44 73 174 266 13banoa 150 250 22 44 73 174 29 1 Victoria 150 250 58 116 194 466 710 Victoria 130 250 59 118 197 474 789 Vinton 150 250 53 105 176 421 642 Vinton 150 250 54 108 179 431 71 8 Virgilina 150 250 22 44 73 175 267 Virgilina 150 250 22 44 '3 175 292 Wakefield 150 250 66 131 219 525 801 Wakefield 150 250 67 134 224 53' 89 5 Warrenton 150 250 83 166 277 665 1.014 Warrenton 150 250 85 170 283 680 1,13 3 Warsaw 150 250 48 96 160 384 585 Warsaw 150 250 49 98 16,4 392 654 Waverly 150 250 77 154 257 618 942 Waverly 150 250-9 158 263 632 1,05 3 West Point 150 250 88 176 293 702 1.0 7 1 West Point 150 250 90 179 299 718 1,197 Windsor 150 250 57 115 191 459 699 Windsor 150 250 59 117 195 469 782 Wise 150 240 20 39 66 157 240 Wise 150 250 20 10 67 161 268 Woodstock 150 250 49 98 163 391 596 Woodstock 150 250 50 99 166 397 662 Wytheville 150 250 25 51 84 202 308 Wytheville 150 250 26 52 86 207 344
SPECIAL 12 REPORT Figure 2 Virginia Local Government Revenue by Source, FY 199 6 Federa l Intergovernmenta l Revenu e 4.9% Source : Tax Foundation. SPECIAL REPORT (ISSN 1068-0306) is published at least 10 times yearly by the Tax Foundation, an independent 501(c)(3) organizatio n chartered in the District of Columbia. 4-12 pp. Annual subscription : $25.00 Individual issues $5. The Tax Foundation, a nonprofit, nonpartisa n research and public education organization, has monitored lax and fisca l activities at all levels of' government since 1937. 01997 Tax Foundatio n Editor and Communications Directo r Stephen Gold Tax Foundatio n 1250 II Street, N W Suite 75 0 Washington, DC 2000 5 (202) 783-2760 M/P.7/www.taxfoundation.org taxfnd@inlr. net Other Source s 10.2 % Gilmore plans to phase in the plan by grad - ually raising the exemption level over approximately five years. The rate at which thi s would be done depends on the growth of state revenues resulting from economic growth i n the state. Gilmore claims that a realistic tim e line for raising the exemption levels would b e the following : $1,500 in fiscal year 1999, $3,000 in FY 2000, $5,000 in FY 2001, $12,00 0 in FY 2002, and finally to $20,000 in FY 2003. The Beyer Plan Under the plan proposed by Democra t Beyer local governments would continue t o tax personal property. The Beyer plan woul d wholly or partially offset this tax using a state income tax credit. Married couples with adjusted gross incomes of up to $75,000 would receive a credit of up to $250 to offset the personal property tax paid on up to two motor vehicles. Single individuals with adjusted gros s income of up to $40,000 would be eligible for a credit of up to $150 to offset the personal property tax paid on one motor vehicle. Beyer estimates that his plan will reduce state revenues by approximately $202 millio n each fiscal year during FY 1999-2002. Like Gilmore, Beyer claims that revenues to finance this tax cut will come from continued economic growth in the state. A Comparison of the Two Plans The tables contained within this repor t present the results of an analysis comparin g tax savings by city, county, and town unde r the two plans for owners of four popular auto - mobiles : 1) a 1990 Honda Accord DX valued a t $5,950 ; 2) a 1996 Ford Taurus G valued at $12,675 ; 3) a 1997 Toyota Camry CE valued a t $18,300; and 4) a 1997 Ford Explorer XI.T valued at $25,825.' Generally the analysis show s that while the Beyer plan offers such taxpayers more savings in the short-run, over the longe r term taxpayers will always save at least a s much under the Gilmore plan, and in man y cases considerably more. In the case of the Honda Accord, for example, single individuals with an AGI of less than $40,000 will typically save $131 each year under the Beyer plan while married couples with an AGI of less than $75,000 will typically save $150. Under the Gilmore plan owners of this vehicle, regardless of marital status and income, would save $38 during the first year of the phasein and $150 when the plan is fully implemented. In the case of the Toyota Camry, typica l per year tax savings under the Beyer plan are $148 for a single individual with an AGI of les s than $40,000 and $247 for a married couple with an AGI of less than $70,000. Under the Gilmore plan tax savings are $43 during th e first year of the phase in and $528 when th e plan is fully implemented. The short-run effect favoring the Beye r plan is due solely to the fact that it assumes more revenue will be available to the state du e to economic growth than does the Gilmore plan. If this revenue assumption is equalize d between the two plans, they will yield the sam e tax results in the short run, and the Gilmor e plan will yield more relief in the long run. Neither Beyer nor Gilmore has attempted to justify his incoming revenue assumptions. ' Values given are retail values from the Nationa l Automobile Dealers Association's Official Used Ca r Guide, Eastern Edition, October 1997. The analysis was conducted by calculating a standardized effective tax rate for each of the aforementioned makes of auto - mobiles for each city, county, and town in Virginia. This was necessary because jurisdictions use differen t assessment guides, concepts of value, and assessmen t ratios when calculating personal property taxes. Because of the need to keep all of the factors affecting these standardized effective tax rates constant and du e to the inherent difficulties associated with forecastin g the value of these variables overtime, the analysis holds all variables, except those affected by the candidate's proposals, constant at 1997 levels. Figures for towns include applicable county tax. The analysis assumes that these were the only taxable vehicle s owned by the individuals.