Senate Bill No. 600
(By Senator Minard)
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[Introduced February 15, 2007; referred to the Committee on
Finance.]
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A BILL to amend and reenact §11-3-5 of the Code of West Virginia,
1931, as amended, relating to whom assessors may issue proof
of payment of personal property taxes.
Be it enacted by the Legislature of West Virginia:
That §11-3-5 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 3. ASSESSMENTS GENERALLY.
§11-3-5. Correction of previous property books; entry of omitted
property.
The assessor, in making out the land and personal property
books, shall correct any and every mistake he or she shall discover
discovers in the books for any previous year.
When the assessor shall ascertain ascertains that any real or
personal property in his or her county liable to taxation, other
than that mentioned in the next succeeding paragraph, has been
omitted from the land or personal property books for a period of
less than five years, he or she shall make an entry thereof of the property in the proper book of the year in which the omission was
discovered and assess the same, according to the rule prescribed in
section one of this article, and shall charge the same with all
taxes chargeable against it at the rate of levy for the year or
years the same was omitted, together with interest thereon at the
rate of six percent per annum for the years the same was omitted
from the books: Provided, That if the taxpayer, including any
person, firm or corporation, and excluding public service
corporations, requires proof of payment of personal property taxes
pursuant to section three-a, article three, chapter seventeen-a of
this code, then the taxpayer shall file a listing of all personal
property owned on the assessment date preceding the tax year or
years for which proof must be shown. The assessor shall then
create a supplemental assessment for the year or years required for
proof of payment for all personal property taxes provided on the
listing and present the supplemental assessment to the sheriff who
shall apply the levy rate or rates for the year or years so
assessed and prepare a tax bill and collect the taxes together with
interest thereon at the rate of six percent per annum for the years
the same was omitted from the books and any penalties included
thereon: Provided, however, That any person who has been a
resident of the state less than one year prior to the assessment
date shall is not be required to pay any interest or penalty.
And when the assessor shall ascertain ascertains that any
notes, bonds, bills and accounts receivable, stocks and other
intangible personal property in his or her county liable to taxation has been omitted from the personal property books for a
period of five years or less after the thirty-first day of
December, one thousand nine hundred thirty-two, he or she shall
make entry thereof of the property in the personal property book of
the year in which the omission was discovered and assess the same
at its true and actual value, according to the rule prescribed in
section one of this article, and shall charge the same with all
taxes chargeable against it after the year last aforesaid at the
rate of levy for the year or years the same was omitted after the
year aforesaid, together with interest thereon at the rate of six
percent per annum for the years the same was omitted from the
books.
Any assessor failing to make an entry as in this section
provided, when discovered by him or her or called to his or her
attention by any taxpayer interested therein, shall forfeit one
hundred dollars.
NOTE: The purpose of this bill is to expand, to firms and
corporations, the entities to whom assessors may issue proofs of
payment of personal property taxes.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.