Recreational vehicles, motor homes and campers are assessed based on a percentage of the original cost. Assessments begin at 70 percent of cost and decline by 10 percent each year until the assessment reaches 20 percent of the original cost. These vehicles do not qualify for personal property tax relief. These vehicle are prorated based on the number of months the vehicle has taxable situs in the county or one of Loudoun’s incorporated towns.
Examples:
RV purchased in the current year for $25,000.
$25,000 X .70 = $17,500 assessed value
Camper purchased 3 years ago for $10,000.
$10,000 X .50 = $5,000 assessed value
Motor home purchased 5 years ago for $175,000.
$175,000 X .30 = $52,500 assessed value