January 30, 2023


The Number One Source For Business

Virginia minimum wage goes up Saturday, along with vehicle insurance minimums | State

Virginia workers, employers, drivers and voters will see three changes in state law effective Saturday.

For employers and employees, the next step in a series of state minimum wage increases begins Jan. 1 with a $1.50 hike in the base wage from $9.50 to $11.

The latest wage hike will lead to another $1 increase in January 2023 to $12, $1.50 in January 2024 to $13.50, and a $1.50 rise to $15 in January 2026. If Congress approves a minimum wage rate higher than the state level at the time, the Virginia minimum wage rises to that level.

With that extra cash, Virginia vehicle owners also may see higher insurance costs. Effective Saturday, minimum liability coverage on vehicle policies must be at least $30,000 for injury or death of one person in an accident and $60,000 for two or more persons.

Car owners can look forward to another minimum coverage increase in January 2025: $50,000 for one person and $100,000 for two or more people injured or killed in an accident.

Starting in 2022 for voters in cities or towns, all governing body and school board elections will be held in November instead of May. All countywide elections in Lee, Scott and Wise counties and Norton’s city elections have already been held in November for several years, and the new election provision affects several localities in the region for the first time.

Officials elected in a previous May vote whose terms would have expired on June 30, 2022, will see their terms extended until they or their successors have been elected in November and qualified to take office on Jan. 1, 2023.

Online: Minimum wage: https://law.lis.virginia.gov/vacode/title40.1/chapter3/section40.1-28.10/ Liability insurance: https://law.lis.virginia.gov/vacode/title46.2/chapter3/section46.2-472/ Elections: https://law.lis.virginia.gov/vacode/15.2-1400/