The Personal Property Tax Relief Act of 1998 (PPTRA) provides tax relief for passenger cars, motorcycles, and pickup or panel trucks having a registered gross weight of less than 7,501 pounds. City Council has passed a resolution that states 47.40% is the set percentage of PPTRA to be applied to personal use vehicles valued between $1,001 and the first $20,000. To qualify, a vehicle must:
- Be owned by an individual or leased by an individual under a contract requiring the individual to pay the personal property tax
- Be used less than 50 percent for business purposes
In addition, you must file and sign your blue tangible personal property form annually and return it to the Commissioner of the Revenue office by May 1st.