FISCAL NOTE
FUND(S):
General Revenue Fund, local governments
Sources of Revenue:
General Fund,Other Fund local governments
Legislation creates:
A New Program
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this resolution is to amend the Constitution to exempt a single motor vehicle owned by residents of this state who are serving on active duty in the armed forces of the United States and are stationed outside this state on the date mandated by law for assessment to be made from ad valorem taxes.
The resolution would result in an annual decrease of less than $200,000 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
| Effect of Proposal |
Fiscal Year |
2008
Increase/Decrease
(use"-") |
2009
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 |
-200,000 |
Explanation of above estimates (including long-range effect):
The resolution would result in an annual decrease of less than $200,000 in local property tax revenues and minimal loss in State revenue.
There would be no additional costs to the State or local governments.
Memorandum
The stated purpose of this resolution is to amend the Constitution to exempt a single motor vehicle owned by residents of this state who are serving on active duty in the armed forces of the United States and are stationed outside this state on the date mandated by law for assessment to be made from ad valorem taxes.
The term “active duty” in the military services of the United States is not defined. As written, a West Virginia resident who is in the reserves or National Guard would be eligible for this exemption if he or she was called to active duty for training outside West Virginia and is temporarily activated for any other purpose and, while activated, is stationed outside West Virginia on the first day of July.
Person submitting Fiscal Note: Mark Muchow
Email Address: kpetry@tax.state.wv.us