HENRICO COUNTY, Va. (WRIC) — The Henrico Board of Supervisors voted this week to approve an emergency ordinance that would extend the deadline for personal property taxes from June 6 to August 5.

Not only does the move give residents an additional 60 days to pay their taxes, it would provide a credit on year-end bills to offset higher-than-expected vehicle values, according to a tweet from the county government.

The extension applies for all personal property taxes, including vehicles, businesses and machinery and tools.

“Supply chain disruptions because of the COVID-19 pandemic have boosted the value of used cars significantly. Higher values lead to higher personal property taxes,” the county tweeted in the thread about the Board’s decision. “The county’s tax relief plan aims to ease that financial burden.”

According to the county, the real estate and property tax relief plans would save residents a total of $51 million in tax relief in 2022.

The county also wrote in a press release that the Board plans to vote this summer on a second part of the tax relief plan in which a credit will be added to residents’ end-of-year property bills. The county estimates that residents would receive a 52-cent reduction to their 2022 personal property tax rate as a result.

In February, Henrico also provided $20 million in real estate tax relief to lessen the impacts of higher home values.