Mountain State Spotlight - Days after the end of the fiscal year on July 1 showed West Virginia’s revenues well above official estimates, Gov. Jim Justice faced a camera in his Capitol office and announced his plans to keep West Virginia on the economic “rocket ship ride” he’s long promised: a 10% income tax cut.…
Tax and Budget
West Virginia ended Fiscal Year (FY) 2022 with revenues coming in at $1.3 billion above estimates. And while that surplus is largely a mirage built on low revenue estimates, unexpectedly high energy prices, and unprecedented amounts of federal aid and budget support, it does present an opportunity to make much-needed investments in the people of…
West Virginia MetroNews - Gov. Jim Justice is pushing for income tax cuts of about 10 percent for West Virginians. But the governor has been suggesting lower-income citizens should get a bigger break by percentage than higher wage earners. Read the full article. House Finance Chairman Eric Householder agrees with the broad strokes of the…
West Virginia Public Broadcasting - Gov. Jim Justice said in a press briefing on Wednesday that his proposed 10 percent permanent personal income tax cut will return $254 million to state taxpayers. Read the full article. “We will get money and real relief all across the board, to every single taxpayer in the state of…
For West Virginia’s Libraries, a Proposed Constitutional Amendment Could Mean Yet Another Budget Cut
Mountain State Spotlight, Beckley Register-Herald, Fayette Tribune - On a recent weekday, nearly two dozen kids gathered around a multicolored ABC rug in the Louis Bennett Public Library, filling the space with chit-chat and laughter. Everyone listened intently as a library clerk in a pirate hat enthusiastically read “Where’s the Pirate?” Then they walked across…
Beckley Register-Herald- It's that time of year again – property tax bills will soon be arriving in the mail and older residents as well as those who are totally and permanently disabled may apply for the homestead exemption. Read the full article. Additionally, the Wyoming County Board of Education hopes to pass a bond levy…
West Virginia MetroNews - A property tax amendment on state ballots this fall could lead to an effect of more than $500 million, an association of county officials has concluded. Read the full article. A working group representing county governments came up with that number. Jonathan Adler, the executive director of the West Virginia Association…
Bluefield Daily Telegraph - A renewed move is on to end the state equipment and inventory tax as well as personal property taxes, with lost revenue at the county level replaced by the state. Read the full article. Voters will see the issue on the ballot in November as the Property Tax Modernization Amendment. State…
Earlier this week, the West Virginia Legislature's Joint Committee on Finance heard from a West Virginia Association of Counties official about the significant potential fiscal impact of the Property Tax Modernization Amendment. If passed, the amendment – which will be on the ballot this November for voters to consider – would lead to the fulfillment…
During last month's legislative interim session, the Joint Standing Committee on Finance heard a presentation from John Deskins of the West Virginia University Bureau of Business and Economic Research regarding the elimination of the property tax on business machinery, equipment, and inventory, which will be the topic of a constitutional amendment on the ballot this…