SENATE
HOUSE
JOINT
BILL STATUS
STATE LAW
REPORTS
EDUCATIONAL
CONTACT
home
home
Introduced Version Senate Bill 621 History

   |  Email
Key: Green = existing Code. Red = new code to be enacted


Senate Bill No. 621

(By Senators Rowe, Mitchell and Caldwell)

____________

[Introduced March 26, 2001; referred to the Committee on Government Organization; and then to the Committee on Finance.]

____________




A BILL to amend article four, chapter eleven of the code of West Virginia, one thousand nine hundred thirty-one, as amended, by adding thereto a new section, designated section twenty-one; and to amend article five of said chapter by adding thereto a new section, designated section fifteen, all relating to taxation; assessment of real property; and limiting the increase of taxation on Class II and Class III personal property.

Be it enacted by the Legislature of West Virginia:
That article four, chapter eleven of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended by adding thereto a new section, designated section twenty-one; and that article five of said chapter be amended by adding thereto a new section, designated section fifteen, all to read as follows:
ARTICLE 4. ASSESSMENT OF REAL PROPERTY.
§11-4-21. Limitation on tax assessment on Class II real property.
Notwithstanding any other provisions of law to the contrary, the county commission, during the time that it sits in review and equalization pursuant to section twenty-four, article three, chapter eleven of this code, may limit any increase in assessed value on Class II real estate that increases the property owner's obligation for payment of those taxes by more than ten percent over the previous tax year's obligation and assessment to ten percent over the previous year's value, unless the increase is based upon improvements made to the property that result in an increased value based upon the improvements.
ARTICLE 5. ASSESSMENT OF PERSONAL PROPERTY.
§11-5-15. Limitation on tax assessment on Class II or Class III personal property.

Notwithstanding any other provisions of law to the contrary, the county commission, during the time that it sits in review and equalization pursuant to section twenty-four, article three, chapter eleven of this code, may limit any increase in assessed value on Class II or Class III personal property as defined in sections eleven and twelve of this article, that increases the property owner's obligation for payment of those taxes by more than ten percent over the previous tax year's obligation and assessment to ten percent over the previous year's value, unless the increase is based upon improvements made to the property that result in an increased value based upon the improvements.

NOTE: The purpose of this bill is to allow county commissions to restrict increases on the taxation of Class II real property and certain Class II and III personal property.

These sections are new; therefore, strike-throughs and underscoring have been omitted.
This Web site is maintained by the West Virginia Legislature's Office of Reference & Information.  |  Terms of Use  |   Email WebmasterWebmaster   |   © 2024 West Virginia Legislature **


X

Print On Demand

Name:
Email:
Phone:

Print