Date Requested:February 09, 2011
Time Requested:01:53 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2011R2514 Introduced SB479
CBD Subject: ANTIQUE CARS AND MOTORCYCLES
FUND(S)
General Revenue Fund, local governments
Sources of Revenue
General Fund,Other Fund local property tax
Legislation creates:
Neither Program nor Fund

Fiscal Note Summary

Effect this measure will have on costs and revenues of state government.

    The stated purpose of this bill is to exempt from taxation motor vehicles which are more than twenty-five years old.
    
    The bill would result in an annual decrease of roughly $950,000 in local property tax revenues and minimal loss in State revenue.
    
    There would be no additional costs to the State or local governments.
    

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2011
Increase/Decrease
(use"-")
2012
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 -950,000
3. Explanation of above estimates (including long-range effect):
    The bill would result in an annual decrease of roughly $950,000 in local property tax revenues and minimal loss in State revenue.
    
    There would be no additional costs to the State or local governments.
    


Memorandum
Person submitting Fiscal Note:
Mark Muchow
Email Address:
kerri.r.petry@wv.gov
    The stated purpose of this bill is to exempt from taxation motor vehicles which are more than twenty-five years old.
    
    A primary concern is whether the Legislature has the authority under West Virginia Constitution Article X, Section 1, to exempt this type of property from ad valorem taxation. Only property used for certain activities (i.e., educational, literary, scientific, religious or charitable purposes) may be exempted.