Tax Incentives Approved for Single-Family Homes, Renovation of Existing Homes
Huntington City Council adopted an ordinance Monday, August 10, 2020, that will eliminate the business and occupation tax for contractors or subcontractors of single-family homes or for the renovation of existing homes.
The City of Huntington assesses a B&O tax of 2% on contractor or subcontractors on the construction or renovation of buildings, specifically of single-family homes. The ordinance will eliminate this tax beginning Oct. 1 from the first $200,000 of gross revenue.
Mayor Steve Williams, who proposed the ordinance, said the intent is to make Huntington more attractive to individuals who can work remotely and are looking to move from large metropolitan areas to smaller cities amid the COVID-19 pandemic.
“This sends a message out that if you’re looking for a new place to live, Huntington, West Virginia, is the place you need to be,” he said. “We are taking the lead on an initiative that very few cities in West Virginia and across the country are taking at this time.”
Huntington City Council unanimously adopted the ordinance, and Mayor Williams signed it immediately upon passage.