TSD 454 Motor Vehicle Property Tax Adjustment Credit
Beginning January 1, 2024, taxpayers are eligible to claim a Motor Vehicle Property Tax Adjustment Credit. The first opportunity to claim this credit will be on a 2024 WV income tax return, filed in 2025, for all timely paid property taxes for eligible vehicles due in 2024.
The first motor vehicle property tax payment that will be eligible to qualify for the credit is the payment made for the second half of the 2023 property tax year and it
must be paid before April 1, 2024.
With the passage of HB 125 in the 1st Special Session, taxpayers will not be penalized if they pay the second half of their ticket in 2023 because it is still considered due in 2024 and therefore timely paid.
Who Qualifies? Individuals, Partnerships, S-Corporations, LLCs, and C-Corporations who
own a qualifying vehicle.
Leasing companies also qualify for the credit. They are
required to pass the savings on to the consumer leasing the motor vehicle. Contact your leasing company for more information on when you can expect to see the discount.
Who Does Not Qualify? Motor Vehicle Dealers.
What Vehicles Qualify? Class A, B, G, H, T, V, X and All-Terrain Vehicles pursuant to
W. Va. Code § 20-15-2. Visit
transportation.wv.gov for more information on these classes of vehicles.
To ensure that you qualify for the Motor Vehicle Property Tax Adjustment Credit, you will have to:
- File your personal property tax returns with your County Assessor
timely. For businesses that means before September 1 and for individuals before October 1.
- Pay your personal property taxes
timely. That means the first half of the assessment must be paid before October 1 and the second half before April 1.
Location and contact information for your
County Assessor can be found
Only individuals and business motor vehicle owners may qualify for the Motor Vehicle Property Tax Adjustment Credit. The credit is only available for the actual tax paid. If an early payment discount is applied, the credit is limited to the amount actually paid after deduction of the discount.
Taxpayers that do not owe WV income taxes and are not required to file a WV income tax return will be able to file a claim for a rebate in early 2025 of their Motor Vehicle property taxes paid. Continue to check this website for more information and form requirements as they become available.
Other credits available in 2024 for taxes filed in 2025 are for residential property of disabled veterans and on all personal property taxes paid by small businesses.
More information on these credits will be made available soon.