H. B. 2002
(By Delegate Amores)
[Introduced January 8, 2003; referred to the
Committee on Finance.]
A BILL to amend and reenact section one, article three, chapter
eleven of the code of West Virginia, one thousand nine hundred
thirty-one, as amended, relating to phasing in increased
assessments on property that exceed twenty-five percent over
the previous year over a five-year period.
Be it enacted by the Legislature of West Virginia:
That section one, 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.
§11-3-1. Time and basis of assessments; true and actual value;
default; reassessment; special assessors.
All property shall be assessed annually as of the first day of
July at its true and actual value. that is to say at The property's
true and actual value is the price for which such the property would sell if voluntarily offered for sale by the owner thereof of
the property, upon such terms as such the property, the value of
which is sought to be ascertained, is usually sold, and not the
price which might be realized if such the property were sold at a
forced sale, except that the true and actual value of all property
owned, used and occupied by the owner thereof of the property
exclusively for residential purposes shall be arrived at determined
by giving primary, but not exclusive, consideration to the fair and
reasonable amount of income which the same property might be
expected to earn, under normal conditions in the locality wherein
in which it is situated, if rented: Provided, That the true and
actual value of all farms used, occupied and cultivated by their
owners or bona fide tenants shall be arrived at determined
according to the fair and reasonable value of the property for the
purpose for which it is actually used regardless of what the value
of the property would be if used for some other purpose; and that
the true and actual value shall be arrived at determined by giving
consideration to the fair and reasonable income which the same
property might be expected to earn under normal conditions in the
locality wherein in which it is situated, if rented: Provided,
however, That nothing herein shall alter in this section alters the
method of assessment of lands or minerals owned by domestic or
foreign corporations: Provided further, That an assessment that is
an increase of twenty-five percent or more over the assessed value of the same property for the previous year shall be phased in over
a five-year period with payment of no more than twenty percent of
the increased assessment for each of the five years. The taxes
upon all property shall be paid by those who are the owners thereof
of the property on that day, whether it be is assessed to them or
others. If at any time after the beginning of the assessment year,
it be ascertained is concluded by the tax commissioner that the
assessor, or any of his or her deputies, is not complying with this
provision or that he or she has failed, neglected or refused, or is
failing, neglecting or refusing after five days' notice to list and
assess all property therein in the county at its true and actual
value, the tax commissioner may order and direct a reassessment of
any or all of the property in any county, district or municipality,
where any assessor or deputy, fails, neglects or refuses to assess
the property in the manner herein provided in this section. And
For the purpose of making such the assessment and correction of
values, the tax commissioner may appoint one or more special
assessors, as necessity may require, to make such the assessment in
any such county, and any such special assessor or assessors, as the
case may be, shall have has all the power and authority now vested
by law in assessors, and the work of such the special assessor or
assessors shall be accepted and treated for all purposes by the
county boards of review and equalization and the levying bodies,
subject to any revisions of value on appeal, as the true and lawful assessment of that year as to all property valued by him, her or
them. The tax commissioner shall, with the approval of the board
of public works, fix the compensation of all such special assessors
as may be that are designated by him or her, which, together with
their actual expenses, shall be paid out of the county fund by the
county commission of the county in which any such the assessment is
ordered, upon the receipt of a certificate of the tax commissioner
filed with the clerk of the county commission showing the amounts
due and to whom payable, after such the expenses have been audited
by the county commission.
Any assessor who knowingly fails, neglects or refuses to
assess all the property of his or her county, as herein provided
shall be in this section, is guilty of malfeasance in office, and,
upon conviction thereof, shall be fined not less than one hundred
nor more than five hundred dollars, or imprisoned confined in the
county jail not less than three nor more than six months, or both
in the discretion of the court, fined and confined, and upon
conviction, shall be removed from office.
NOTE: The purpose of this bill is to phase in increased
assessments on property that are 25% or more over the assessed
values of the previous year. The phase-in period is 5 years with
no more than 20% of the increased assessment due in each of the 5
years.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.