ENGROSSED
Senate Bill No. 463
(By Senators Minard and Sharpe)
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[Introduced March 7, 2005; referred to the Committee
on Finance.]
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A BILL to amend and reenact §11-3-5 of the Code of West Virginia,
1931, as amended, relating to allowing a supplemental
assessment on all personal property when personal property has
been omitted from the record books.
Be it enacted by the Legislature of West Virginia:
That §11-3-5 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 3. ASSESSMENTS GENERALLY.
§11-3-5. Correction of previous property books; entry of omitted
property.
The assessor, in making out the land and personal property
books, shall correct any and every mistake he
or she shall discover
in the books for any previous year.
When the assessor shall ascertain that any real or personal
property in his
or her county liable to taxation, other than that
mentioned in the next succeeding paragraph, has been omitted from
the land or personal property books for a period of less than five
years, he
or she shall make an entry thereof in the proper book of
the year in which
such the omission was discovered and assess the
same, according to the rule prescribed in section one of this
article, and shall charge the same with all taxes chargeable
against it at the rate of levy for the year or years the same was
omitted, together with interest thereon at the rate of six percent
per annum for the years the same was omitted from the books:
Provided, That if the taxpayer requires proof of payment of
personal property taxes pursuant to section three-a, article three,
chapter seventeen-a of this code, then the taxpayer shall file a
listing of all personal property owned on the assessment date
preceding the tax year or years for which proof must be shown. The
assessor shall then create a supplemental assessment for the year
or years required for proof of payment for all personal property
taxes provided on the listing and present the supplemental
assessment to the sheriff who shall apply the levy rate or rates
for the year or years so assessed and prepare a tax bill and
collect the taxes together with interest thereon at the rate of six
percent per annum for the years the same was omitted from the books
and any penalties included thereon:
Provided, however, That any person who has been a resident of the state less than one year
prior to the assessment date shall not be required to pay any
interest or penalty.
And when the assessor shall ascertain that any notes, bonds,
bills and accounts receivable, stocks and other intangible personal
property in his or her county liable to taxation has been omitted
from the personal property books for a period of five years or less
after the December thirty-first day of December, one thousand nine
hundred thirty-two, he or she shall make entry thereof in the
personal property book of the year in which such the omission was
discovered and assess the same at its true and actual value,
according to the rule prescribed in section one of this article,
and shall charge the same with all taxes chargeable against it
after the year last aforesaid at the rate of levy for the year or
years the same was omitted after the year aforesaid, together with
interest thereon at the rate of six percent per annum for the years
the same was omitted from the books.
Any assessor failing to make such an entry as in this section
provided, when discovered by him or her or called to his or her
attention by any taxpayer interested therein, shall forfeit one
hundred dollars.