H. B. 4412
(By Delegate Spencer)
[Introduced February 6, 2006; 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: Provided, That 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.