(Richmond, VA) -- Virginia Lawmakers are considering Gov. Youngkin's vehicle tax relief proposal and potentially eliminate the property tax. Katie Gray reports.Preview: SCRIPT:
The proposal aims to allocate $1 point 1 billion dollars into a car tax credit fund to provide income tax rebates to eligible taxpayers over the next three years. If successful, Virginia would join states like Georgia and Rhode Island that have repealed their vehicle property tax in recent years. The governor's plan seeks to provide relief to Virginia families while addressing the impact on local governments' revenue. The Virginia Mecury reports that Virginia lawmakers will begin discussing proposed bills and budget amendments in their upcoming session scheduled in January.