HB566Introduced in the House of Delegates
Tangible personal property tax relief; rate of taxation.
Introduced by Joseph McNamara, District 40
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
Tangible personal property tax relief; rate of taxation. Requires, for tax year 2027 and all tax years thereafter, each county, city, or town to reduce its local tax rate on qualifying vehicles to no greater than $0.000001 per $100 of the eligible assessed value of the qualifying vehicle. The bill defines "eligible assessed value" as $5,000 of the assessed value of a qualifying vehicle. For tax year 2028 and all tax years thereafter, for any year in which the revenues of a county, city, or town grow by five percent or more, the bill provides that the eligible assessed value applied in such county, city, or town shall increase by an additional $5,000 until such time that the eligible assessed value equals $20,000.
Where it stands
Left in Finance
February 18, 2026
How did lawmakers vote?
House of DelegatesStage: Subcommittee recommends laying on the table (7-Y 3-N) · February 10, 2026
7
Yes
3
No
1
Absent or Not Voting
11 delegates recorded in this House of Delegates vote. Colors show vote categories only, not whether a vote was good or bad.
See how each delegate voted
| Delegate | District | Vote |
|---|---|---|
| Elizabeth Bennett-Parker | 5 | Absent |
| Karen Keys-Gamarra | 7 | Yes |
| Vivian Watts | 14 | Yes |
| Margaret Franklin | 23 | Yes |
| Wendell Walker | 52 | No |
| Thomas Garrett | 56 | No |
| Stacey Annie Carroll | 64 | Yes |
| Nicole Cole | 66 | Yes |
| Lee Ware | 72 | No |
| Lindsey Dougherty | 75 | Yes |
Bill history
Prefiled and ordered printed; Offered 01-14-2026 26102059D
Referred to Committee on Finance
Fiscal Impact statement From TAX (2/1/2026 11:28 am)
Assigned HFIN sub: Subcommittee #2
Fiscal Impact statement From TAX (2/8/2026 3:41 pm)
House subcommittee offered
Subcommittee recommends laying on the table (7-Y 3-N)
Left in Finance
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