WQBE News

Governor Justice declares 4% decrease in personal property tax

Three weeks before the August deadline to determine whether West Virginia’s tax collections hit the target for personal income tax trigger, Gov. Jim Justice said Thursday that the state hit the required benchmarks for a 4% income tax cut next year. Speaking during his weekly administration briefing from the State Capitol, Justice said state Department of Revenue officials determined that a 4% cut in personal income tax rates will go into effect beginning January 2025. West VA ended fiscal year 2024 on June 30 with more than $5.7 billion in tax collections for the general revenue fund, providing the state with more than $826 million in surplus tax collections.

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