H. B. 4175
(By Delegate Kelley)
[Introduced January 27, 2000; referred to the
Committee on the Judiciary then Finance.]
A BILL to amend article four, chapter eleven of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, by
adding thereto a new section, designated section twenty-one,
relating to the West Virginia Property Tax Limitation Act of
2000; providing that effective January 1, 2002, property taxes
shall be frozen for a period of three calendar years and that
tax increases for all classes of property may not be imposed
until January 1, 2005 and thereafter, at which time no
increase may be higher than five percent of the previous
assessed value.
Be it enacted by the Legislature of West Virginia:
That article four, chapter eleven of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
twenty-one, to read as follows:
ARTICLE 4. ASSESSMENT OF REAL PROPERTY.
§11-4-21. West Virginia Property Tax Limitation Act of 1999;
findings; implementation of freeze and cap on
increases.
(a) The Legislature hereby implements the West Virginia
Property Tax Limitation Act of 2000. The Legislature finds:
(1) There is a need to gradually move away from the imposition
of a property tax as a means of funding government programs; and
(2) While alternatives to property taxes must be studied and
considered, there is a need for general relief in the form of a
freeze on increases, beginning in the year two thousand one until
year two thousand four. There is a further projected need
thereafter, to assure a lesser tax burden for valuation increase
caps.
(b) Notwithstanding any provision contained in article one-a
of this chapter or any other provision of this code to the
contrary, beginning on the first day of January, two thousand two,
and continuing until the first day of January, two thousand four,
property taxes shall be frozen at the rates and amounts of taxation
last annually assessed. Effective on the first day of January, two
thousand five, no annual increase in tax may exceed the amount of
additional tax that would be due upon an increase of five percent
of the existing assessed valuation over that existing in the preceding tax year.
NOTE: The purpose of this bill is to implement a freeze in
additional property taxes on all classes of property, beginning in
the year 2002 and extending until year 2004. Then, effective in
the year 2005 future valuation and tax increases would only be
permissible at a maximum rate equal to the amount that would be due
based upon a 5% increase in valuation.
This section is new; therefore, strike-throughs and
underscoring have been omitted.