Gov. Joe Manchin has proposed a property tax break for aircraft, arguing it could increase passenger service while making West Virginia airports more attractive as storage and maintenance hubs.
"We're looking at an industry that we think we can make some strides in," Manchin spokeswoman Lara Ramsburg told The Associated Press. "We've got a growing aerospace industry."
Supporters include Sen. John Yoder, R-Jefferson, who proposed a similar measure last year. AP reports that Yoder "cited research by Berkeley County Assessor Preston Gooden, estimating that the loss from slashing property taxes would be more than offset by new jobs, increased fuel sales and the building of hangars and related facilities."
22 January 2008
Legislature 2008: Taxes
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1 comment:
Truly a great idea, but needs to go one step further.
Eliminate Personal Property Tax! It is a tragic tax that is not found in our border states.
The arguments for reduction on aircraft can be used on all personalty. Increase in fleet sizes, increase in equipment, increase in jobs, less reason to discount WV as a base of business.
One aircraft, under the current system, can have tax bills over 250K per year! Yet, big businesses look at that same burden with equipment.
Good luck Joe, next year the whole shooting match!
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