RICHMOND, Va. (WRIC) — Richmond residents will have an extra two months to pay their personal property taxes after the City Council voted to extend the deadline.

The Richmond City Council voted unanimously Tuesday to give taxpayers until Aug. 5 to pay their tangible personal property and machinery and tools taxes. The previous deadline had been June 6.

According to the city’s website, tangible personal property includes “motor vehicles, farming equipment, boats, motorcycles, recreational vehicles, campers and trailers as well as property used in a trade or business.”

The city administration recommended the delay, and the council backed the ordinance to help residents “avoid the additional financial burden of penalties and interest incurred by late payment,” according to the initial proposal.

The ordinance cites a short supply of both new and used cars brought on by supply-chain disruptions, historically low-interest rates and car companies opting not to replace inventory.

The measure says the ongoing supply issue has led to an increase in vehicle valuations by the North American Dealership Association (NADA), which the city uses to determine personal property taxes.

The increase in valuations “resulted in higher personal property taxes for the 2022 tax year than previously anticipated,” the city’s proposal states.

Faced with the same issues, Chesterfield, Henrico and other nearby localities have adopted similar extensions to help residents avoid penalties.

Richmond residents can pay their personal property taxes online or through the mail. People can find answers about personal property taxes in Richmond on the city’s website.