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The sales and use tax rate is 4%. The tax rate on food is 1.5%. There is an additional 1% local tax, for a total of a 5% combined sales tax on most Virginia purchases and a combined tax rate of 2.5% on food. [40] Virginia's property tax is set and collected at the local government level and varies throughout the commonwealth.
Other financially important tax rates set by the board include the personal property tax rate, which is applied to the value of vehicles in the county, and the business, professional and occupational license (BPOL) tax, which is applied to the gross receipts of businesses in the county.
The chart below depicts the 100 highest income counties in the United States by median household income according to the 2020 United States census. [2] Virginia has the most counties in the top 100 with 18 followed by California with 11; Maryland with 10; New Jersey with nine; New York and Texas with six each; Illinois with five; Colorado, Massachusetts, and Minnesota with four each; Ohio and ...
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According to the Tax Foundation, if the 2017 Tax Cuts and Jobs Act expires as scheduled in 2025, the 2026 tax brackets could reflect higher tax rates. For example, taxpayers in bracket 2 could ...
The Fairfax County meals tax referendum is a 2016 referendum that proposes a 4% tax on all prepared meals sold in Fairfax County, Virginia. The 4% tax would be on top of the current 6% state sales tax, resulting in a total of 10% in taxes charged on all prepared meals. [1] The referendum was voted on by Fairfax County residents in the general ...
As of 2021, the overall median real estate tax rate per $100 of assessed taxable value was $0.96, though for 72 of the 95 counties this number was under $0.80 per $100. Northern Virginia has the highest property taxes in the state, with Manassas Park paying the highest effective tax rate at $1.31 per $100, while Powhatan and Lunenburg counties ...
Tom Davis was one of only eleven Republicans to vote against the Contract with America Tax Relief Act [66] that cut taxes by $189 billion over five years, including lowering the capital gains tax rate and easing the "marriage penalty," [67] and supported a tax hike referendum to raise sales taxes in northern Virginia by 4.5 to 5%. [68]
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