HB 3450
To reduce all titled vehicle personal property taxation valuation, except for mobile homes, from a class 4 assessment valuation to a class 2
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill changes how West Virginia assesses the personal property tax on titled vehicles. It lowers the valuation class for these vehicles from Class 4 to Class 2, except for mobile homes. This adjustment aims to reduce the tax burden on vehicle owners. The change impacts the way personal property is categorized for tax purposes within the state.
Key provisions
- Reduces the valuation class for titled vehicle personal property.
- Lowers the assessment from Class 4 to Class 2.
- This change applies to all titled vehicles except mobile homes.
- The bill amends West Virginia Code §11-8-5 regarding property classification.
- Creates an exception for mobile homes within the tax valuation system.
Who is affected
- Vehicle Owners
- Taxpayers
- Businesses that own titled vehicles
Notable changes
- Changes the property classification for titled vehicles.
- Reduces the tax rate applied to these vehicles.
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