H. B. 2345
(By Mr. Speaker, (Mr. Thompson) and Delegate Armstead)
[By Request of the Executive]
[Introduced January 19, 2007; referred to the
Committee on Veterans Affairs and Homeland Security then
Finance.]
A BILL to amend and reenact §11-5-1 of the Code of West Virginia,
1931, as amended, relating to exempting one motor vehicle
owned by a resident of this state on active duty in the United
States Armed Forces from ad valorem taxes for any taxable year
the person is on active duty.
Be it enacted by the Legislature of West Virginia:
That §11-5-1 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 5. ASSESSMENT OF PERSONAL PROPERTY.
§11-5-1. What personal property taxable.
All personal property belonging to persons residing in this
state, whether such the property be in or out of the state, and all
personal property in the state, though owned by persons residing
out of the state, shall be entered in the personal property book and be subject to equal and uniform taxation, except as classified
in section four, article eight of this chapter, unless especially
exempted by law; but personal property of all classes, except as
hereinbefore provided, belonging to the residents of this state,
which is actually and permanently located in another state and by
the laws of
such the other state is subject to taxation and is
actually taxed in
such the other state, shall not be entered on the
personal property book or be taxed in this state:
Provided, That
a single motor vehicle owned, in whole or in part, by a resident of
this state that is located in this state while the owner or
part-owner is serving on active duty in the Armed Forces of the
United States and is stationed outside this state on the first day
of July of any assessment year is exempt from ad valorem property
taxes for that tax year. But the shares of capital stock owned by
residents of this state in corporations actually located in other
states, and whose property is taxed by the laws of
such the other
state, shall not be required to be listed for taxation. Any person
who at any time before the assessment year transfers by loan,
deposit or gift any notes, bonds, bills and accounts receivable,
stocks and other intangible personal property which are subject to
taxation to anyone who does not return a list of taxation as of the
day on which the assessment year commences, including
such the
property, transfers, loans, deposits or gifts, if made with
intention of evading taxation,
shall be deemed and treated as is illegal and fraudulent and the assessor shall assess
such the
property for taxation to the party who makes
such the transfers,
loans, deposits or gifts as aforesaid.
NOTE: The purpose of this bill is to exempt one motor vehicle
owned by a state resident on active duty from ad valorem taxes.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.