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Introduced Version Senate Bill 277 History

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sb277 intr
Senate Bill No. 277

(By Senators Snyder and Unger)

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[Introduced February 17, 2009; referred to the Committee on Government Organization; and then to the Committee on Finance.]

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A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-2-10, relating to taxation; count assessors; requiring assessors to create a cost of housing index to be filed annually with the Tax Commissioner and Legislature; and contents of the index.

Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §11-2-10, to read as follows:
ARTICLE 2. ASSESSORS.
§11-2-10. Housing index to be filed with Tax Commissioner and Legislature annually.
(a) The Tax Commissioner shall establish a form on which county assessors shall report a housing index containing the average cost of residential housing or real property in the respective counties. The commissioner shall create a housing index which contains the cost of all residential housing in the state arranged from the most expensive county to the least expensive county. The commissioner shall annually create an index multiplier which when multiplied by the housing costs of the least expensive county will equal the housing cost of the most expensive county.
(b) The Tax Commissioner shall then prepare an annual report to the Legislature of the information containing the average housing cost of each county arranged from the most expensive to the least expensive and containing the index multiplier determined as set forth in subsection (a) of this section. The report from the commissioner to the Legislature shall also contain information relating the median cost of residential housing in the state, county by county, indicating whether the average cost of residential housing in a county is either above or below the median cost for the entire state. The report shall contain a table that indicates the average cost of housing in the state and indicates with a plus or minus multiplier the average cost of housing in each county, as they fall into comparison to the statewide average cost of housing with a multiplier calculated in relation to the average value.



NOTE: The purpose of this bill is to require county assessors to create a cost of housing index to be filed annually with the Tax Commissioner and for the Tax Commissioner to annually file a report with the Legislature containing information indicating the average cost of residential housing in each county and how the costs compare on a county by county basis.

This section is new; therefore, strike-throughs and underscoring have been omitted.
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