HD Media Report
HUNTINGTON, W.Va. — The Cabell County Commission has expressed concern about a legislative proposal that would phase out a number of personal property taxes West Virginians pay annually, potentially eliminating more than $300 million in funding to local governments statewide, including a loss of up to $28 million in Cabell County.
The joint resolution (Senate Joint Resolution 9), which advanced Friday to passage stage Monday, Feb. 24, would put a referendum on the November general election ballot to remove from the state constitution personal property taxes on manufacturing equipment, machinery and inventory, other business inventory, and on motor vehicles, moving that taxation authority to the Legislature.
A companion bill, which also advanced Friday to passage stage Monday, would raise consumer sales taxes by 0.5% and increase cigarette, other tobacco, e-cigarette and vaping taxes to make up about $200 million of that lost revenue (Senate Bill 837).
Currently, the taxes go directly to counties, school systems and municipalities, and although the resolution contains a promise to make counties “whole” by the state for the lost revenue, Cabell County officials questioned the protections.
The legislation could eliminate up to $28 million of the $84 million in property tax revenue that funds local county services — including funding to the Cabell County Sheriff’s Office, municipal police departments, fire service, public transportation, the health department and other county services, according to data released by the Cabell County Commission in a news release Saturday.
