HOUSE CONCURRENT RESOLUTION NO. 76
(By Mr. Speaker, Mr. Kiss, and Delegates Douglas, Michael,
Staton, Trump, Faircloth and Manuel)
[Originating in the Committee on Rules]
Requesting the Joint Committee on Government and Finance to study
the effects of residential development on real property tax
valuation and on the tax base of developing counties in the
state of West Virginia.
Whereas, The Legislature finds and declares that all property
in this state should be fairly and equitable valued wherever it
is situated so that all citizens will be treated fairly; and
Whereas, The valuation of unsold lots and tracts in planned
residential communities and subdivisions at their anticipated
sales price may result in considerable increases in real property
taxes before the profits from such sales are realized; and
Whereas, The valuation of unsold lots and tracts in planned
residential communities and subdivisions at the rate which was
applicable in their undeveloped state may result in valuations
far below fair market value; and
Whereas, A number of factors exist on which differences in
valuations rates may fairly be based, including but not limited
to, whether and the degree to which there has been infrastructure
development of the land, whether a county or municipal planning authority has designated a proposed land use, or whether the land
is actually used by the developer for another commercial purpose;
and
Whereas, The Legislature needs accurate information regarding
the impact of variances in the valuation of property proposed for
development in order to make informed decisions regarding real
property valuation; therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to study the effects of residential development on real
property tax valuation and on the tax base of developing counties
in the state of West Virginia, with specific emphasis on the
projected long-term impacts of overdevelopment which could occur
from the undervaluation of land proposed for development; and be
it
Further Resolved, That the Joint Committee on Government
and Finance report to the regular session of the Legislature,
2000, on its findings, conclusions and recommendations, together
with drafts of any legislation necessary to effectuate its
recommendations; and, be it
Further Resolved, That the expenses necessary to conduct
this study, to prepare a report and to draft necessary
legislation be paid from legislative appropriations to the Joint
Committee on Government and Finance.