Senate Bill No. 397
(By Senators Beach, Snyder, Klempa Barnes and Kessler (Acting President))
[Introduced February 2, 2011; referred to the Committee on Transportation and Infrastructure; and then ro the Committee on Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-1C-5c, relating to the method of establishing the value of antique motor vehicles for purposes of ad valorem property taxes.
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 §11-1C-5c, to read as follows:
ARTICLE 1C. FAIR AND EQUITABLE PROPERTY VALUATION.
§11-1C-5c. Antique motor vehicle valuation for purposes of personal property tax.
Notwithstanding any provision of this code to the contrary, antique motor vehicles shall be valued for purposes of ad valorem property taxes at their salvage value, not to exceed $200. An “antique motor vehicle” means any motor vehicle which is more than twenty-five years old.
NOTE: The purpose of this bill is to establish the value of antique motor vehicles for purposes of personal property taxes.
This section is new; therefore, strike-throughs and underscoring have been omitted.