Relating to the ad valorem property valuation of specialized high-technology property

HB 3264 changes how certain high-tech property is taxed in West Virginia. It requires that servers and equipment used in data centers, AI computing, blockchain operations, and internet advertising businesses be valued for property tax purposes at their salvage value (the value if sold for parts), rather than their full market value. This directly affects businesses operating data centers, AI infrastructure, and digital advertising services that rely on specialized high-tech equipment. The bill aims to reduce property tax burdens on these businesses by lowering the taxable value of their key physical assets.