FUND(S):

General Revenue Fund, local governments

Sources of Revenue:

General Fund,Other Fund local property tax

Legislation creates:

A New Program



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    The stated purpose of this bill is to prohibit the reclassification of class two real property for a period of two years if the estate has not been settled.
    
    The Tax Department does not have data to estimate the fiscal impact of this bill. There would be no additional administrative costs.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2005
Increase/Decrease
(use"-")
2006
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0


Explanation of above estimates (including long-range effect):


    The Tax Department cannot identify which properties this bill will affect; therefore, an accurate estimate of the fiscal impact of this bill cannot be made.
    
    There would be no additional costs to the State or local governments.



Memorandum


    As indicated in W. Va. Code §11-8-5, there are four classes of property. These four classes of property are established in the West Virginia Constitution. There is no authorization in the Constitution for the Class II classification to be continued on property when the owner of the property has died. The property is no longer “owned, used and occupied by the owner thereof exclusively for the residential purposes.”
    
    Additionally, W. Va. Code §11-4-3 provides a definition for “used and occupied by the owner thereof exclusively for residential purposes.” This bill does not amend that definition. Person submitting Fiscal Note: Mark Muchow
     Email Address: kpetry@tax.state.wv.us