H. B. 2986
(By Delegates Manchin, Longstreth and Caputo)
[Introduced March 9, 2009; referred to the
Committee on Political Subdivisions then the Judiciary.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §11-22-2a, relating
to allowing the imposition of a tax up to $100 per $100,000 on
the transfer of real estate within the incorporated limits of
any municipality with the sole purpose of the revenue
generated from the excise tax to be used to demolish buildings
that are condemned.
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 §11-22-2a, to read as
follows:
ARTICLE 22. EXCISE TAX ON PRIVILEGE OF TRANSFERRING REAL
PROPERTY.
§11-22-2a. Additional tax; disposition and use of proceeds.
(a) Effective January 1, 2010, and thereafter, a municipality may impose upon every person who delivers, accepts or presents for
recording any document, or in whose behalf any document is
delivered, accepted or presented for recording, and in respect to
the transaction or any part thereof, a municipal excise tax upon
the privilege of transferring title to real estate at the rate of
up to $100 for the first $100,000 of value or fraction thereof, as
represented by the document as defined in section one of this
article. The municipal tax is payable at the time of delivery,
acceptance or presenting for recording of the document. The clerk
of the county commission collects the municipal excise tax before
recording a transfer of title to real estate and deposits the
moneys from this tax into the account of the municipality in which
the property was located.
(b) The moneys deposited into the municipalities account are
segregated from other funds of the municipality and are accounted
for separately.
(c) These funds have the sole purpose of being used for the
funding of demolishing buildings that are condemned, deemed
abandoned by the courts, or property that the local government has
taken over due to safety reasons.
NOTE: The purpose of this bill is to allow municipalities to
assess up to $100 tax per $100,000 of value on the transfer of real
estate within the incorporated limits of any municipality with the
sole purpose of the revenue generated from the excise tax to be
used to demolish buildings that are condemned.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.