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Last Updated: 2015-02-06. The tangible personal property tax is a tax based on the value of the property, commonly referred to as an ad valorem tax. Tangible personal property is the property of individuals and businesses in the city of Richmond. 1  Individual (Vehicle) Personal Property Tax Frequently Asked Questions.
This page covers the most important aspects of Virginia's sales tax with respects to vehicle purchases. For vehicles that are being rented or leased, see see taxation of leases and rentals. Virginia collects a 4.00% state sales tax rate on the purchase of all vehicles with a minimum tax of 75 dollars. The maximum tax that can be charged is 550 dollars. In addition to taxes, car purchases in Virginia may be subject to other fees like registration, title, and plate fees.