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State lawmakers this past week appropriately wasted no time in fixing the personal property tax mess they created. Now, anyone who already paid or pays their entire 2023-24 personal property tax bill by Oct. 1 -- that's the tax West Virginians pay each year for the privilege of owning a car -- will be able to receive a refund for the half due in 2024 when they file taxes in 2025.
The tax refund, or credit, is part of comprehensive tax reform passed earlier this year by the Legislature. Starting in 2024, the personal property tax paid can be refunded through a credit when you file your state taxes in 2025.
But some taxpayers, not understanding the mechanics of the new measure, paid their entire bill when they received it in July. That initially meant they would not be eligible for the credit, as they failed to wait to pay the second half of their tax bill in 2024. But the fix passed by lawmakers and now awaiting the governor's signature makes those who've already paid their taxes eligible for the second-half 2023-24 relief when they file their taxes in 2025.
Good for lawmakers for recognizing the fallacy of their legislation and fixing it in favor of the taxpayer. There's another issue out there dealing with inaccurate mineral rights values that lawmakers also should address, as the State Tax Department has bungled those valuations for this year. Get to work on those next.