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.