Virginia Tax Rebate Checks to Be Sent Out Starting Next Week, Youngkin Reveals
Virginia Governor Glenn Youngkin announced that the eagerly anticipated tax rebate checks, a part of the state’s long-awaited budget, will finally begin distribution starting next week. The checks, which offer tax relief of up to $200 for individual filers and $400 for those filing joint returns, will be sent out in multiple waves.
Speaking during an event in Petersburg aimed at highlighting tax relief initiatives in the state budget, Governor Youngkin emphasized the importance of reducing the cost of living in Virginia and acknowledging that Virginians have been burdened by high taxes for the past eight years.
He stated, “It’s part of our broader strategy to reduce the cost of living in Virginia and to recognize that Virginians have been overtaxed. Virginians have been overtaxed for eight years, and we are putting an end to it.”
Governor Youngkin clarified the process, explaining, “If you filed earlier in the year, you’re first in line, but everybody’s got to get their tax return for 2022 in by November 1, and then you’ll be in line to get your tax relief.”
In addition to the tax rebate checks, the budget also introduced a sales tax holiday over the weekend. During this period, no sales tax will be applied to purchases of qualifying low-dollar school supplies, clothing items, products for hurricane preparedness, and energy- and water-efficient appliances.
Governor Youngkin encouraged Virginians to take full advantage of the sales tax holiday, urging them to purchase essential school supplies, needed clothing items, and even major appliances for their homes, with potential savings of up to $2,500 for appliances. He emphasized that a 5 to 6% savings can make a significant difference in household expenses.
These rebate checks come on the heels of last year’s $4 billion in tax relief measures and are a central component of this year’s package. The package also includes an increase in the standard deduction, allowing individuals to claim $8,500 and joint filers $17,000. Additionally, other tax relief measures eliminate the state portion of sales tax on groceries (local sales taxes still apply) and grant younger veterans an exemption on $40,000 of their military retirement income.
