Virginia Tax Rebates: What You Need to Know Before the Deadline

RICHMOND, Va. — Governor Glenn Youngkin announced on Wednesday that eligible Virginia taxpayers can expect rebates this fall, driven by a $10 billion state surplus and strong job growth. Individual filers could receive up to $200, while joint filers could get up to $400.

To qualify, residents must have filed their 2024 state taxes by November 3. Rebates will be distributed by October 15 for those who filed before July 1, arriving via direct deposit or paper check, depending on how the filer received their previous tax refund.

“Virginia’s strong job growth, bolstered by business investment commitments of $140 billion, has driven a total of $10 billion in surplus revenue,” Youngkin said. “This fall’s tax rebate reflects a simple truth: it’s your money, not the government’s.”

However, not all taxpayers will benefit. David Kembel, owner of Kembel Tax Service, explained that individuals with no tax liability in 2024, such as retired persons not requiring to file, will not receive the rebate. Moreover, any outstanding debts to Virginia Tax or other agencies will offset the rebate amount before it reaches the taxpayer.

For instance, if someone owes Virginia for previous tax years, that amount will be deducted from the rebate. “They’re going to hold this rebate and pay off last year’s tax bill for you,” Kembel stated.

Residents expressed mixed feelings about the rebates. Roanoke resident York Onnen called it “an absolute surprise,” while Marcia Mason mentioned she was saving her rebate for Christmas. Some, like Caspian Quigley, noted, “Who doesn’t like money? I need to check my mail.”

The Youngkin administration has issued similar tax rebates in the past two years. Secretary of Finance Stephen Cummings emphasized that the state’s surplus comes from sound fiscal management and aims to return funds to the people while funding key priorities.

Eligible taxpayers are encouraged to file their returns by the upcoming deadline to ensure consideration for the rebate.