Virginia · 2026 Regular Session · Bill
HB 566: Tangible personal property tax relief; rate of taxation.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 566 is a bill introduced in the Virginia House on January 13, 2026. According to its official title, it concerns: Tangible personal property tax relief; rate of taxation. Primary sponsor: Joe McNamara (Republican). It lists 8 additional sponsors. Most recent recorded action (February 18, 2026): Left in Finance.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
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.
Sponsors
Sponsors by party (alphabetical): Republican 9
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Joe McNamara | Primary sponsor | Republican | House | 40 |
| Mike Cherry | Co-sponsor | Republican | House | 74 |
| Mitchell Cornett | Co-sponsor | Republican | House | 46 |
| Karen Hamilton | Co-sponsor | Republican | House | 62 |
| Terry Kilgore | Co-sponsor | Republican | House | 45 |
| Delores Oates | Co-sponsor | Republican | House | 31 |
| Phil Scott | Co-sponsor | Republican | House | 63 |
| David Suetterlein | Co-sponsor | Republican | Senate | 4 |
| Tony Wilt | Co-sponsor | Republican | House | 34 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Left in Finance
- Subcommittee recommends laying on the table (7-Y 3-N)
- House subcommittee offered
- Fiscal Impact statement From TAX (2/8/2026 3:41 pm)
- Assigned HFIN sub: Subcommittee #2
- Fiscal Impact statement From TAX (2/1/2026 11:28 am)
- Referred to Committee on Finance
- Prefiled and ordered printed; Offered 01-14-2026 26102059D