By January 5, 2018 Read More →

Push on to eliminate West Virginia personal property tax

By JOHN McVEY

The Journal

MARTINSBURG, W.Va.  — State lawmakers expect West Virginia Gov. Jim Justice to submit during the upcoming legislative session a resolution for a vote on a constitutional amendment to eliminate the personal property tax, or so-called inventory tax.

Sen. Craig Blair

“The personal property tax would be on equipment and machinery as well as inventory,” state Sen. Craig Blair, R-Berkeley, said Thursday in a telephone interview. He is chairman of the Senate Finance Committee. “That would eliminate about $130 million, but it would be phased in over seven years. That would be about $20 million a year, and through government efficiencies and natural economic growth, replacing that revenue is doable.”

Blair said he hadn’t seen a draft of the amendment, but it will eventually have to go through his committee and the House Finance Committee before going to the full Senate and House during the session for approval.

Read the entire article: http://www.journal-news.net/news/local-news/2018/01/push-on-to-eliminate-w-va-personal-property-tax/

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