Date Requested:February 19, 2008
Time Requested:04:06 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2008R2303 Introduced SB696
CBD Subject: Providing appraisal methods for certain multifamily rental properties
FUND(S)
General Revenue Fund, local governments
Sources of Revenue
General Fund,Other Fund local property tax
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary

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

    The stated purpose of this bill is to provide for the method of appraising certain affordable multi-family rental property for property tax assessment purposes.
    
     The loss of revenue to the State and local governments cannot be determined.
    
    Additional administrative costs to the State Tax Department or local governments cannot be determined.
    
Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2008
Increase/Decrease
(use"-")		 2009
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 State Tax Department does not have sufficient data to estimate the revenue loss to the State and local governments due to passage of this bill.
    
    Additional administrative costs to the State Tax Department or local governments cannot be determined.
    

Memorandum
Person submitting Fiscal Note:
Mark Muchow
Email Address:
kpetry@tax.state.wv.us