Due to shortages in both the new and used vehicle markets, prices have increased for 2021. In Chesapeake, the average assessment of a used car valued by the J. D. Power Official Used Car Guide increased by 15% over 2020. As a consequence, many Citizens may see an increase in their personal property tax bill for 2021. The large price increase also impacted the amount of the Personal Property Tax Relief Credit causing a decrease from 47% to 42%. Chesapeake, as well as all Hampton Roads localities, uses the J. D. Power Official Used Car Guide to determine the assessed value of most vehicles.