Valuation of Interstate Commercial Motor Vehicles

5.1. Classification of interstate motor carrier operating property. -- Operating property shall include each power unit used as an interstate commercial motor vehicle registered under a proportional registration agreement.

5.2. Appraisal method. A cost approach shall be used to determine the appraised value of an interstate commercial motor vehicle. The gross capital cost of the interstate commercial motor vehicle shall be multiplied by a percentage factor representing the remainder of the vehicle's value after depreciation.

5.2.1. The Tax Commissioner shall annually provide the depreciation schedule for power units to the West Virginia Commissioner of Motor Vehicles for use in assessing power units subject to proportional registration agreements. The property assessment and tax collection upon interstate power units will occur at the time of registration through the International Registration Plan.

5.3. Interstate Motor Carrier Apportionment Factor. For each interstate truck, road tractor and power unit registered under a proportional registration agreement, the appraised value, as determined under Subsection 5.1 of this rule, shall be multiplied by an apportionment factor the numerator of which represents the total fleet miles driven in the most recent taxable year in West Virginia and the denominator of which represents the total fleet miles driven in the most recent taxable year everywhere; the mileage amounts shall be the mileage amounts as reported to the West Virginia Division of Motor Vehicles.