CHARLESTON, WV (LOOTPRESS) – Gov. Justice signed Executive Order 25-21 on Wednesday, relating to the tax assessment of personal property owned in West Virginia.
This year, the automobile values for used cars are artificially inflated and the personal property taxes assessed on West Virginians’ automobiles would therefore be artificially high, primarily due to supply issues created by the coronavirus pandemic. To help West Virginians avoid paying higher property taxes because of supply issues caused by the pandemic, the order suspends applicable provisions of a regulatory tax statute only to the extent necessary to account for the used car prices being artificially-inflated.
Instead of relying only on current prices solely, the order directs the Tax Commissioner to compile a schedule of automobile values based on the lowest values shown in a nationally accepted used car guide from the current year or the previous year, whichever is lower. This schedule will then be given to each assessor and be used by the several county assessors to determine the assessed value for all motor vehicles.