FISCAL NOTE
Date Requested: February 12, 2025
Time Requested: 08:41 PM |
| Agency: |
Tax & Revenue Department, WV State |
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| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1743 |
Introduced |
HB2184 |
|
|---|
| CBD Subject: |
|
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FUND(S):
General Revenue Fund, local governments
Sources of Revenue:
General Fund local property tax revenue
Legislation creates:
Creates New Revenue, Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to allow for monthly payments on current real and personal property taxes.
The revenue gain associated with this bill cannot be determined. The bill would increase revenue with the monthly 2.5 percent convenience fee. However, we do not know how many taxpayers would take advantage of this plan.
There would be additional administrative costs due to system changes and an increased volume of tax payment documents. Revenue from the convenience fee could help offset such costs.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2025
Increase/Decrease
(use"-") |
2026
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 revenue gain associated with this bill cannot be determined. The bill would increase revenue with the monthly 2.5 percent convenience fee. However, we do not know how many taxpayers would take advantage of this plan.
There would be additional administrative costs due to system changes and an increased volume of tax payment documents. Revenue from the convenience fee could help offset such costs.
Memorandum
The stated purpose of this bill is to allow for monthly payments on current real and personal property taxes.
The bill does not designate in which month taxpayers utilizing the monthly payment plans must begin making payments. In addition, the bill does not designate a date by which a taxpayer must pay the taxpayer’s monthly payment to prevent delinquency.
Person submitting Fiscal Note: Mark Muchow
Email Address: RADfiscal@wv.gov