The West Virginia State Tax Department is required to value vehicles by using a nationally
recognized organization which establishes values of used vehicles.
The WV State Tax Department has contracted with the
National Automobile Dealers Association (NADA)
and uses its July edition. Of the three values that appear for each vehicle (retail, trade-in, or loan), the state uses the lowest value, which is loan, to assess your vehicle. NADA produces computer software which matches a vehicle value to each vehicle identification number (VIN). The Harrison County Assessor’s Office enters the VIN in the State computer network for each vehicle. The computer in Charleston reads the VIN and then assigns the loan value to that specific vehicle. You are taxed only on the basic model. Since West Virginia taxes 60% of the market value, the computer takes 60% of the loan value and applies the appropriate levy rate.
The West Virginia Tax Department can apply a $25 to $100 forfeiture penalty for non-filers.