Relating to the rate of tax on motor vehicles

HB 4064 modifies West Virginia's motor vehicle sales tax rules to allow buyers to deduct tax already paid on a traded-in vehicle from the new purchase price. It increases the tax rate from 5% to 6% for vehicles purchased on or after July 1, 2017, and applies this tax to all used vehicles purchased within the state, regardless of where the vehicle was originally bought. The bill clarifies that "exchange" includes trading in a vehicle titled in the same name within seven days, requiring a notarized bill of sale. This directly affects motor vehicle buyers, sellers, and dealers participating in trade-in transactions across West Virginia.