summary
Introduced
01/20/2026
01/20/2026
In Committee
01/20/2026
01/20/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
The purpose of this resolution is to permit the Legislature to exempt some species of tangible personal property from ad valorem taxation, reduce the rate of taxation or assessment for any species of tangible personal property; establish different statewide rates of taxation, assessment, or methods of valuation for different species of tangible personal property, or classify property as real property or personal property for ad valorem taxation.
AI Summary
This resolution grants the West Virginia Legislature the authority to reduce or eliminate the business inventory tax, which is a type of property tax levied on tangible personal property used in businesses. Specifically, the Legislature can exempt certain types of tangible personal property from this tax, lower the tax rate or assessment for these items, set different statewide tax rates, assessment rates, or valuation methods for different types of tangible personal property, and decide whether to classify property as real or personal for tax purposes. The resolution also notes that this amendment is designated as the "Motor Vehicle and Other Personal Property Tax Reduction Amendment" and its purpose is to allow for the elimination or reduction of personal property taxes on motor vehicles and other tangible personal property, along with the flexibility to establish varied tax structures and property classifications.
Committee Categories
Budget and Finance
Sponsors (11)
Lisa White (R)*,
Chris Anders (R),
Jim Butler (R),
Wayne Clark (R),
Elias Coop-Gonzalez (R),
Kathie Crouse (R),
Joe Funkhouser (R),
Rick Hillenbrand (R),
Mike Hite (R),
Tresa Howell (R),
Bryan Ward (R),
Last Action
To House Finance (on 01/20/2026)
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