SEMA eNews Vol. 14, No. 8, February 24, 2011

West Virginia Bill to Lower Personal Property Taxes on Antique Motor Vehicles Approved by Transportation Committee

Legislation in the West Virginia Legislature to provide owners of antique motor vehicles with a fair and equitable personal property tax assessment was approved by the House Roads and Transportation Committee. The bill seeks to address recent unfair valuation practices that have negatively impacted many West Virginia hobbyists. The measure provides that for the purposes of the property tax, the assessed value of an antique vehicle cannot exceed $200. The bill now moves to the House Finance Committee for consideration. West Virginia law defines an "antique motor vehicle" to mean any motor vehicle that is more than 25 years old and owned solely as a collector's item. 

For more information, click here. For details, please contact Steve McDonald at stevem@sema.org.

Rate this article: 
1
Average: 1 (1 vote)