Lawmakers in Virginia have approved measures to generate funds to improve the 325-mile I-81 corridor through the state, which include increasing truck registration fees and diesel taxes.
The Virginia General Assembly adopted Wednesday, April 3, a recommendation from Gov. Ralph Northam that will raise $278 million per year. The recommendation adds on to existing vehicle registration fees for all trucks with a gross weight greater than 10,000 pounds, as follows:
- For trucks with a gross weight of 10,001 through 15,000 pounds, add $6 per 1,000 pounds to the base registration fee.
- For trucks with a gross weight of 15,001 through 25,000 pounds, add $7 per 1,000 pounds to the base registration fee.
- For trucks with a gross weight of 25,001 through 29,000 pounds, add $9 per 1,000 pounds to the base registration fee.
- For trucks with a gross weight of 29,001 through 40,000 pounds, add $10 per 1,000 pounds to the base registration fee.
- For trucks with a gross weight greater than 40,000 pounds, the total registration fee cannot exceed $23.25 per 1,000 pounds.
In addition to increasing registration fees, the legislation also increases the diesel tax in the state by 2.03 percent of the statewide average wholesale price of a gallon of diesel over a base period of time. It also adds 2.03 percent to the quarterly road tax the state charges trucking companies.
The registration fees and road tax increases will take effect July 1, 2019, while the diesel tax increase will take effect July 1, 2021.
The increases approved this week are an alternative to a tolling plan floated in the state earlier this year that leaned heavily on truck tolls.
