Starting in September, Americans will get $100s in tax refunds - are you eligible?

A unanimous decision by the city council could result in property tax refunds for Salem residents.

Every taxpayer in Salem will receive a refund worth 19.5% of what they paid in personal property taxes on their cars this year.

According to the Census, Salem is home to roughly 25,000 people.

According to the Roanoke Times, the city brought in $1.9 million more in personal property taxes than last year.

As a result, tax dollars generated by the city increased by 42% from 2019 to 2021, according to the Motley Fool.

The Salem City Council wanted to assist citizens by providing a one-time partial refund of personal property 

taxes paid on vehicles, in recognition of this unique and unprecedented increase in valuation.

In addition to real estate taxes, personal property taxes are levied on expensive items like cars.

Calculating the refund amount

Every $100 in assessed value of personal property is taxed at a rate of $3.40.

According to a National Automobile Dealers Association report from January 2022, the average car was valued at $44,905.

The average car owner paid roughly $1,527 in personal property taxes and qualifies for a refund of $298.

A refund is only available for vehicles that were assessed and taxed in 2022.

Residents of Salem must pay off any fees, penalties, or interest associated with their car's taxes by August 31 in order to qualify for the payment.

There are 23,000 vehicle models that may qualify for a rebate, according to a spokesperson for the city.

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