Ohio County Assessor: Plan Now To Get Most on Vehicle Tax Rebates
Photo by Joselyn King WHEELING -- Ohio County Assessor Tiffany Hoffman tells residents if they haven't yet received their personal property tax bills for 2023 they should contact her office soon if they want future personal property tax refunds in 2025.
Hoffman and other financial experts are telling the public to pay the first half of their 2023 personal property tax bill by the time it's due on Oct. 1 -- and not the full amount -- so that their next half payment in 2024 qualifies for a tax refund in 2025 under new tax laws in West Virginia.
The Property Tax Adjustment Act, passed into law this year by the West Virginia Legislature, provides for refundable tax refunds on vehicle property taxes beginning Jan. 1, 2024 -- but only if the bills are paid on time.
But before a resident can pay their bill before the due date, they first have to be properly on the tax books and receive the bill, Hoffman explained.
"If you did not yet receive your 2023 tax bill for your vehicles, cars, boats or trailers in the mail, then you need to stop in my office with your registration so we can make you up a 2023 bill," she said.
Everyone should by now have received their 2023 real estate and individual personal property tax bills, according to Hoffman. Her office is located on the second floor of the Wheeling City-County Building, Room 204, 1500 Chapline St., in Wheeling.
After the first half of the 2023 bill is paid this fall, residents should next strive to pay the second half of the 2023 bill by April 1, 2024, to receive their first tax credit in 2025, she said.
Bills for the 2024 tax year then will be out one year from now in July 2024. Experts suggest paying all of the 2024 tax bill by the time it is first due on Oct. 1, 2024 to get the full eligible rebate on their 2025 taxes.
Residents next will need to submit the receipts from April 1, 2024, and Oct. 1, 2024, tax payments with their returns submitted in 2025 to receive eligible refunds on all the payments made in 2024.
"You are not going to get a refund with your 2023 taxes, but you will with your 2024 taxes (submitted in 2025)," Hoffman explained.
Some residents such as veterans also may qualify for additional rebates, but they should check with their tax professional, she added. Wheeling accountant Jeffrey Yourkovich is among those telling clients to only pay half of their tax bill before it is due on Oct. 1, then wait until 2024 to pay the remainder.
"The law is not effective until Jan. 1, 2024," he said. "A lot of people pay that in full in October. This is the year it would be unwise to do that.
"What is happening is the county gets the money upfront, and the state is giving it back to you later."
Yourkovich added the new law is "good for individuals and businesses."
He explained that under the Property Tax Adjustment Act, the personal property tax credit is 100% for individuals and 50% for businesses.
Individual personal property includes vehicles, motorcycles, boats, trailers, and ATVs. Business owners pay personal property taxes on their machinery, equipment, furniture and fixtures, computers, leasehold improvements, inventory, and fleet vehicles.
Hoffman agrees the potential for a rebate may make people more conscientious in paying their taxes.
"I'm hoping," she said. "I hope people understand the process a little more because it is a very difficult process to understand."