ENGROSSED
COMMITTEE SUBSTITUTE
FOR
Senate Bill No. 241
(By Senators Craigo, Dittmar, Kessler, Anderson, Sharpe, Ross, Love, Ball, Hunter, Sprouse, Buckalew, Kimble, Minear, Boley, Scott, Dugan, Bailey, Walker, Prezioso, Fanning, Helmick and Tomblin, Mr. President)
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[Originating in the Committee on the Judiciary;
reported February 19, 1998.]
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A BILL to amend and reenact section one-b, article three, chapter eleven of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to providing that the sale of one lot does not change the value of the remaining recorded plan for tax purposes.

Be it enacted by the Legislature of West Virginia:
That section one-b, article three, chapter eleven of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended and reenacted to read as follows:

ARTICLE 3. ASSESSMENTS GENERALLY.

§11-3-1b. Recordation of plat or designation of land use not to be basis for assessment.

The recordation of a plan or plat, or the designation of proposed land use by a county or municipal planning authority shall not be used by the assessor as a basis in the valuation or assessment of real property for the purposes of taxation until such time as the actual use of such real property ~~or any part thereof,~~ has changed to correspond to the plan, plat or proposed use. A change in the actual use of a portion of the property to correspond to the plan, plat or proposed use shall not be the basis for a change in the valuation or assessment of the remaining portion of the property for purposes of taxation. The valuation or assessment of the remaining portion shall be based on the fair market value and the actual use of such remaining portion as a whole at the time of such valuation or assessment.