This bill proposes amendments to the classification of property for levy purposes in West Virginia, specifically targeting the taxation of titled vehicle personal property. The legislation seeks to reclassify titled vehicle personal property, excluding mobile homes, from a Class IV assessment valuation to a Class II valuation. This change aims to reduce the tax burden on owners of titled vehicles by placing them in a lower tax classification.

The bill modifies the existing law by inserting language that includes titled vehicle personal property in Class II, which encompasses property used exclusively for residential purposes. Additionally, it retains the current classifications for other types of property, such as agricultural and real estate properties. The overall intent of the bill is to provide tax relief for vehicle owners while maintaining the existing structure for other property classifications.

Statutes affected:
Introduced Version: 11-8-5