This bill amends the Code of West Virginia, specifically section 11-6J-3, which pertains to the ad valorem property valuation of specialized high-technology property. The legislation establishes that the value of servers and tangible personal property used in high-technology or Internet advertising businesses will be assessed at their salvage value for property taxation purposes.

A significant change introduced by this bill is that this valuation method will only apply to servers or tangible personal property with a valuation exceeding $100 million. This amendment aims to refine the criteria for property valuation in the high-technology sector, potentially impacting tax assessments for large-scale technology businesses in West Virginia.

Statutes affected:
Introduced Version: 11-6J-3