Relating to valuation of specialized high-technology property

HB 4846 changes how certain high-technology property is taxed in West Virginia by valuing qualifying servers and equipment at their scrap value (instead of full market value) for property tax purposes. It applies only to assets over $100 million owned by businesses in high-tech or internet advertising sectors, as defined by existing law. This reduces the taxable value of these assets, directly lowering property tax bills for qualifying businesses. The bill does not alter tax rates but modifies the valuation method for specific high-value technology assets.