hb2457 intr

H. B. 2457

(By Delegates Fragale and Coleman)

[Introduced January 20, 2003; referred to the

Committee on the Judiciary then Finance.]

A BILL to amend and reenact section five, article eight, chapter eleven of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to providing that property owned, used and occupied by the owner or the owner's immediate family exclusively for residential purposes is Class II property for levy purposes.

Be it enacted by the Legislature of West Virginia:

That section five, article eight, 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 8. LEVIES.

§11-8-5. Classification of property for levy purposes.

For the purpose of levies, property shall be classified as follows:

Class I. All tangible personal property employed exclusively in agriculture, including horticulture and grazing;

All products of agriculture (including livestock) while owned by the producer;

All notes, bonds, bills and accounts receivable, stocks and any other intangible personal property;

Class II. All property owned, used and occupied by the owner exclusively for residential purposes or used and occupied by the owner's immediate family member or members exclusively for residential purposes without compensation for the use being paid to the owner by the immediate family member or members;

All farms, including land used for horticulture and grazing, occupied and cultivated by their owners or bona fide tenants;

Class III. All real and personal property situated outside of municipalities, exclusive of Classes I and II;

Class IV. All real and personal property situated inside of municipalities, exclusive of Classes I and II.

NOTE: The purpose of this bill is to provide that property owned, used and occupied by the owner or the owner's immediate family exclusively for residential purposes and without compensation being paid to the owner by the immediate family members is Class II property for levy purposes.

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