H. B. 2534
(By Delegates Doyle, Manuel, Tabb,
Campbell, Duke, Blair and Trump)
[Introduced January 23, 2003; referred to the
Committee on the Judiciary then Finance.]
A BILL to amend and reenact section eighty-five, article
twenty-four, chapter eight of the code of West Virginia, one
thousand nine hundred thirty-one, as amended, relating to the
tax on the privilege of transferring title to real estate; and
eliminating the maximum value of the property to which the tax
applies.
Be it enacted by the Legislature of West Virginia:
That section eighty-five, article twenty-four, chapter eight
of the code of West Virginia, one thousand nine hundred thirty-one,
as amended, be amended and reenacted to read as follows:
ARTICLE 24. PLANNING AND ZONING.
§8-24-85. Tax on privilege of transferring real property.
(a) Notwithstanding the provisions of section two, article
twenty-two, chapter eleven, and effective on the first day in January, two thousand three effective date of the amendments of
this section enacted during the two thousand three regular session
of the Legislature and thereafter, in addition to the tax imposed
pursuant to article twenty-two, chapter eleven of this code, any
county commission that has created a farmland protection program
may impose an additional county excise tax for the privilege of
transferring title to real estate at the rate of no more than one
dollar and ten cents for each five hundred dollars' value or
fraction thereof, which additional tax shall apply to a maximum
value of one million dollars as represented by any document as
defined in section one, article twenty-two, chapter eleven of this
code, payable at the time of delivery, acceptance or presentation
for recording of the document.
(b) The tax imposed pursuant to this section is to be
administered and collected as the tax on the privilege of
transferring title to real estate imposed pursuant to the
provisions of article twenty-two, chapter eleven of this code.
(c) The tax imposed pursuant to this section is to be used
exclusively for the purpose of funding farmland preservation.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.