Senate Bill No. 99

(By Senators Craigo, Bowman and Ross)

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[Introduced January 17, 2000; referred to the Committee on the Judiciary; and then to the Committee on Finance.]
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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; and to amend article five of said chapter by adding thereto a new section, designated section fifteen, all relating to taxation; assessment of real property; and limiting the increase of taxation on Class II and Class III personal property.

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; and that article five of said chapter be amended by adding thereto a new section, designated section fifteen, all to read as follows:
ARTICLE 4. ASSESSMENT OF REAL PROPERTY.
§11-4-21. Limitation on tax assessment on Class II real property.

Notwithstanding any other provisions of law to the contrary, there may be no tax increase on Class II real estate that increases the property owner's obligation for payment of those taxes by more than ten percent over the previous tax year's obligation and assessment, unless the increase is based upon improvements made to the property that result in an increased assessment of value based upon the improvements.
ARTICLE 5. ASSESSMENT OF PERSONAL PROPERTY.
§11-5-15. Limitation on tax assessment on Class II or Class III personal property.
Notwithstanding any other provisions of law to the contrary, there may be no tax increase on Class II or Class III personal property as defined in sections eleven and twelve of this article that increases the property owner's obligation for payment of those taxes by more than ten percent over the previous tax year's obligation and assessment, unless the increase is based upon improvements made to the property that result in an increased assessment of value based upon the improvements.


NOTE: The purpose of this bill is to restrict increases on the taxation of Class II real property and Class II and III personal property.

These sections are new; therefore, strike-throughs and underscoring have been omitted.