LEWISBURG, WV (WVNS) — Greenbrier County Commissioners approved a resolution regarding a Business and Inventory tax.
The resolution states the legislature can not remove the Business and Inventory tax without coming up with a solution to replace the lost inventory.
In Greenbrier County alone, the removal of the tax would result in the immediate loss of public funding in tax revenue of more than $750,000. That deficit would significantly decrease the budget that funds the county law enforcement, public services, and education services.
Greenbrier County Commissioners tell us signing the resolution was a proactive approach to protecting county incomes.
“If you keep taxing that, they can’t grow, they don’t have the capital because you’re taking part of that capital in the tax,” Greenbrier County Commission President Lowell Rose said. “New businesses will say, well I can set up in Virginia or I can set up somewhere else where they don’t have the business and inventory tax and not come to our area.”
If a replacement isn’t found, the loss would be carried over to the residents with increased property taxes.
The resolution will be sent to Charleston.