H. B. 2055
(By Delegate Spencer)
[Introduced January 11, 2007; referred to the
Committee on the Judiciary then Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §11-5-15, relating to
providing an exemption of ten thousand dollars of the
valuation of motor vehicles for personal property taxation
purposes.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §11-5-15, to read as
follows:
ARTICLE 5. ASSESSMENT OF PERSONAL PROPERTY.
§11-5-15. Personal property tax deduction; value of motor
vehicles.
Subject to section one, article ten of the West Virginia
Constitution and notwithstanding any provision in this article to
the contrary, the valuation of a motor vehicle shall be determined at the fair market value as determined by the assessor less ten
thousand dollars. This reduction in valuation is not to exceed a
valuation less than zero. For purposes of this section, "motor
vehicle" has the same meaning as in subdivision (b) of section one,
article one, chapter seventeen-a of this code.
NOTE: The purpose of this bill is to reduce by ten thousand
dollars the valuation of motor vehicles, not to exceed a value of
less than zero, for personal property taxation purposes.
This section is new; therefore, strike-throughs and
underscoring have been omitted.
Email
Webmaster | © 2024 West Virginia Legislature **
