Reduces personal property taxation values for titled vehicles, excluding mobile homes, from Class IV to Class II.

West Virginia HB5534 proposes to amend the Code of West Virginia to reclassify titled vehicle personal property, excluding mobile homes, from a Class IV assessment valuation to a Class II. This change aims to reduce the taxation values for these vehicles. The bill specifies that the reclassification applies to all titled vehicle personal property owned, used, and occupied by the owner exclusively for residential purposes.

Reduces personal property taxation values for titled vehicles, excluding mobile homes, from Class IV to Class II.

West Virginia HB5534 proposes to amend the Code of West Virginia to reclassify titled vehicle personal property, excluding mobile homes, from a Class IV assessment valuation to a Class II. This change aims to reduce the taxation values for these vehicles. The bill specifies that the reclassification applies to all titled vehicle personal property owned, used, and occupied by the owner exclusively for residential purposes.