“Our members have been hoping for a modernization of West Virginia’s property tax structure for many years. We finally are in the home stretch of getting approval from voters to give the Legislature the authority to act on how we tax manufacturers and other businesses as well as the vehicles owned by West Virginians,” McPhail said. “I applaud the governor’s leadership and the state’s record revenues coming off a global pandemic, but the WVMA believes the prudent course is to achieve passage of Amendment 2 and update that section of the tax code before addressing personal income tax.”

McPhail said West Virginia has the right leaders in place to be able to accomplish both goals in due course – reforming property taxes and lowering the income tax – but the state should not pursue the latter before the former is completed, and that starts with passage of Amendment 2 in November. She noted that working toward personal property tax modernization has a broader benefit for West Virginia citizens and business alike, not only putting money back into the pockets of the state’s taxpayers but also paving the way for recruitment and retention of business investment and more job growth.

“Updating our antiquated property tax structure first, before tackling the personal income tax, will give our state leaders the ability to modernize our whole tax code to build a stronger economy for all,” McPhail said. 

For more information on Amendment 2, contact the WVMA at (304) 342-2123.