Date Requested:February 17, 2005
Time Requested:02:49 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2005R653 Intro HB2437
CBD Subject: Real Estate Tax Clarification
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
Over-all effect
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
3. 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
Person submitting Fiscal Note:
Mark Muchow
Email Address:
kpetry@tax.state.wv.us
    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.