This bill proposes an amendment to the classification of property for levy purposes in West Virginia, specifically targeting titled vehicle personal property. The legislation aims to reclassify all titled vehicle personal property, excluding mobile homes, from a Class IV assessment valuation to a Class II valuation. This change is intended to reduce the taxation values associated with titled vehicles, thereby providing financial relief to vehicle owners.

The bill modifies the existing law by inserting language that explicitly includes titled vehicle personal property in the Class II category, which encompasses property used exclusively for residential purposes. The reclassification is part of a broader effort to adjust property tax assessments and alleviate the financial burden on residents who own titled vehicles. The bill does not propose any changes to the classification of mobile homes, which will remain unaffected by this amendment.

Statutes affected:
Introduced Version: 11-8-5