Date Requested:February 20, 2012
Time Requested:11:18 AM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2012R2220 Introduced HB4604
CBD Subject: ASSESSMENT OF REAL PROPERTY
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 that real property shall be assessed as “Used and occupied by the owner thereof exclusively for residential purpose” when the owner or spouse of the owner is residing with a family member, regardless of when the owner or spouse of the owner began residing with a family member.
    
    The loss of revenue to the State and local governments cannot be readily determined.
    
    Additional costs to the State Tax Department or local governments would be minimal.

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2012
Increase/Decrease
(use"-")
2013
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 loss of revenue to the State and local governments cannot be readily determined. There is nothing in the statewide computer system to flag why a home has lost its Class II classification.
    
    Additional costs to the State Tax Department or local governments would be minimal.
    


Memorandum
Person submitting Fiscal Note:
Mark Muchow
Email Address:
kerri.r.petry@wv.gov
    The stated purpose of this bill is to provide that real property shall be assessed as “Used and occupied by the owner thereof exclusively for residential purpose” when the owner or spouse of the owner is residing with a family member, regardless of when the owner or spouse of the owner began residing with a family member.
    
    The bill proposes amendments to the definition of “used and occupied by the owner therefore exclusively for residential purposes” and the effective date. The proviso deals with situations where the owner is not residing in the house on July 1. The effect of the bill may be to leave property empty or occupied but not rented. The effective date may result in the retroactive application of the changes in this bill.