This bill aims to enhance the efficiency of personal property tax assessments in West Virginia by mandating the Division of Motor Vehicles (DMV) to provide the Tax Assessor with comprehensive records of all motor vehicles owned by individuals as of July 1 each year. Specifically, the DMV is required to supply these lists to the Tax Assessor by October 1 of the same year, ensuring that the assessment of taxes on motor vehicle personal property is based on accurate and up-to-date information. Additionally, the bill introduces a new article, 17A-3B-1, which formalizes this requirement within the Code of West Virginia.

Furthermore, the bill amends existing sections of the tax code, including 11-3-1 and 11-5-2, to incorporate the new provisions regarding the assessment of personal property. The Tax Assessor is instructed to include the motor vehicle data provided by the DMV in their personal property books, which will now also reflect the personal property owned as listed by the DMV. This legislative change is designed to streamline the assessment process, reduce discrepancies, and improve the overall accuracy of property tax assessments in the state.

Statutes affected:
Introduced Version: 11-3-1, 11-5-2, 17A-3B-1