Virginia Ranks In Top 10 For Cost of Car Ownership | WAMU 88.5 - American University Radio

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Virginia Ranks In Top 10 For Cost of Car Ownership

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When it comes to the cost of operating vehicles, Virginia drivers are paying more out of pocket every year than most of the rest of the country.

The Commonwealth ranks No. 9 on Bankrate.com's list of annual car-ownership costs. According to the report, commuters lay out $3,622 every year on gasoline, insurance, taxes, and repairs.

Maryland, by contrast, clocked in at No. 29 on the list, with costs of $3,158 — just below the national average of $3,201. D.C. was not included in the rankings.

So what is it that puts the commonwealth head and shoulders over the competition? Taxes and fees in the state average nearly $1,600, the seventh highest in the country. Car taxes in Northern Virginia run between 4 and 5 percent, depending on the county. Arlington, for instance, charges 5 percent on the assessed value of a vehicle every year.

There's also some reason to believe that the report may understate the amount spent on gasoline for drivers in Northern Virginia. Commuters in the region face the second-longest commutes in the country behind New York City.

Earlier this year, Gov. Bob McDonnell signed legislation that eliminated the gasoline tax in favor of a 3.5 percent tax on the wholesale price of gasoline as well as a $64 "hybrid tax."

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