H. B. 4005


(By Delegate Phillips (By Request))
[Introduced January 12, 1994; referred to the
Committee on the Judiciary.]




A BILL to amend and reenact section five, article three, chapter eleven of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to the correction of land and personal property books by the assessor and eliminating the six percent interest charged by the assessor on property omitted from the land and personal property books.

Be it enacted by the Legislature of West Virginia:

That section five, article three, chapter eleven of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended, 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 shall discover in the books for any previous year.

When the assessor shall ascertain that any real or personal property in his 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 shall make an entry thereof in the proper book of the year in which such 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
And when the assessor shall ascertain that any notes, bonds, bills and accounts receivable, stocks and other intangible personal property in his county liable to taxation has been omitted from the personal property books for a period of five years or less after December thirty-first, one thousand nine hundred thirty-two, he shall make entry thereof in the personal property book of the year in which such 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 entry as in this act provided, when discovered by him, or called to his attention by any taxpayer interested therein, shall forfeit one hundred dollars.



NOTE: The purpose of this bill is to remove the six percent interest charged by the assessor on taxes owing on property omitted from the land and personal property books.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.