HB 5534
To reduce all titled vehicle personal property taxation values, except for mobile homes, from a Class IV assessment valuation to a Class II
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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 taxes on vehicles. It lowers the tax value of most titled vehicle personal property from a Class IV valuation to a Class II valuation. This change applies to all vehicles except for mobile homes, which are not affected. The goal is to adjust the tax rates based on a different property classification system.
Key provisions
- Reduces titled vehicle personal property assessment from Class IV to Class II.
- Excludes mobile homes from this change.
- Modifies §11-8-5 of the West Virginia Code.
- Reclassifies titled vehicle personal property within the levy system.
- Creates an exception for mobile homes regarding property taxation.
Who is affected
- Vehicle owners in West Virginia
- Taxpayers
- Individuals owning titled vehicle personal property
Notable changes
- Changes the property classification system for tax purposes.
- Alters the valuation method for titled vehicle personal property.
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