The bill amends the Code of West Virginia, specifically section 11-3-9, to exempt motor vehicles from personal property tax for tax years beginning after December 31, 2025. The new legal language inserted into the current law specifies that "any motor vehicle owned as personal property" will be exempt from taxation, and this exemption is added as item (30) in the list of properties exempt from taxation, with the previous item (30) renumbered to (31). The bill also maintains existing exemptions for various property types, including those owned by government entities, educational institutions, and nonprofit organizations, while ensuring that properties purchased to evade taxation remain ineligible for exemption.

The legislation aims to provide financial relief to motor vehicle owners by eliminating their personal property tax obligations, potentially encouraging greater vehicle ownership and usage. Additionally, it emphasizes the responsibilities of the Tax Commissioner and local assessors in maintaining uniform assessment practices, thereby preserving the integrity of the tax exemption system for other properties. Overall, the bill seeks to simplify the tax structure related to personal property and enhance the financial well-being of vehicle owners in West Virginia.

Statutes affected:
Introduced Version: 11-3-9