H. B. 2512
(By Delegate Miley)
[Introduced February 17, 2009; referred to the
Committee on the Judiciary then Finance.]
A BILL to amend and reenact §11-1C-9 of the Code of West Virginia,
1931, as amended, relating to assessed property valuations;
and limiting the periodic valuation in certain circumstances.
Be it enacted by the Legislature of West Virginia:
That §11-1C-9 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 1C. FAIR AND EQUITABLE PROPERTY VALUATION.
§11-1C-9. Periodic valuations.
(a) After completion of the initial valuation required under
section seven of this article, each assessor shall maintain current
values on the real and personal property within the county. In
repeating three-year cycles, every parcel of real property shall be
visited by a member of the assessor's staff who has been trained
pursuant to section six of this article to determine if any changes
have occurred which would affect the valuation for the property. With this information and information such as sales ratio studies
provided by the Tax Commissioner, the assessor shall make such
adjustments as are necessary to maintain accurate, current
valuations of all the real and personal property in the county and
shall adjust the assessments accordingly:
Provided, That for
purposes of determining a property's assessed value, the valuation
of any property still owned by the same person or persons who owned
the property at the time of the previous periodic valuation, the
property's assessed value may not be greater than one and
seventy-five thousandths times the previous assessed valuation.
(b) In any year the assessed value of a property or species of
property be less than or exceed sixty percent of current market
value, the Tax Commissioner shall direct the assessor to make the
necessary adjustments. If any assessor fails to comply with the
provisions of this section, the Tax Commissioner may, at the county
commission's expense, take reasonable steps to remedy the
assessment deficiencies.
NOTE: The purpose of this bill is to limiting the valuation of
any property still owned by the same person or persons who owned
the property at the time of the previous periodic valuation, the
property's assessed value may not be greater than one and
seventy-five thousandths times the previous assessed valuation.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.