A bill to provide a cap on property taxes paid by owners of antique and classic motor vehicles was vetoed by Governor Early Ray Tomblin due to a technical issue. The bill had been amended and approved by the West Virginia State Legislature with a new $5,000 assessed value for all of these cars. Previous versions of the bill contained an assessed value provision of $1,000. Generally, the bill vetoed by the governor benefited antique and classic vehicle owners whose cars are worth more than $5,000. However, it would have penalized most antique and classic vehicle owners whose cars are worth less than $5,000. The Legislature chose not to call an additional vote on the bill in an attempt to override the veto.
For details, contact Steve McDonald at stevem@sema.org.