| Date Requested: March 11, 2021 Time Requested: 11:26 AM |
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The stated purpose of this bill is to provide an exemption from personal property taxes to certain persons.
The revenue impact of this proposal on Property Tax collections cannot be determined. We have no data on the number of taxpayers who would qualify for the various exemptions in this bill or the values of their personal property.
Additional administrative costs to local governments cannot be determined. Additional costs to the State Tax Department would be minimal.
| Effect of Proposal | Fiscal Year | ||
|---|---|---|---|
| 2021 Increase/Decrease (use"-") |
2022 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) | |
| 1. Estmated Total Cost | 0 | 0 | 0 |
| Personal Services | 0 | 0 | 0 |
| Current Expenses | 0 | 0 | 0 |
| Repairs and Alterations | 0 | 0 | 0 |
| Assets | 0 | 0 | 0 |
| Other | 0 | 0 | 0 |
| 2. Estimated Total Revenues | 0 | 0 | 0 |
The revenue impact of this proposal on Property Tax collections cannot be determined. We have no data on the number of taxpayers who would qualify for the various exemptions in this bill or the values of their personal property.
Additional administrative costs to local governments cannot be determined. Additional costs to the State Tax Department would be minimal.
The stated purpose of this bill is to provide an exemption from personal property taxes to certain persons.
Article X, Section 1 of the W. Va. Constitution requires taxation to be equal and uniform throughout the State, property to be taxed in proportion to its value, and no one species of property be taxed higher than any other species of property of equal value. The proposed bill may be in violation of this section because some personal property would be exempt from taxation based on ownership.