FISCAL NOTE
Date Requested: March 06, 2017 Time Requested: 01:53 PM |
Agency: |
Tax & Revenue Department, WV State |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2768 |
Introduced |
SB433 |
|
CBD Subject: |
Counties, Taxation |
---|
|
FUND(S):
Local Governments
Sources of Revenue:
Other Fund local governments
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to permit counties to increase the excise tax on the privilege of transferring real property.
There will be no effect on the General Revenue Fund.
There would be an increase in County Commission revenues of up to $5.1 million if all fifty-five counties increased their rate.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2017 Increase/Decrease (use"-") |
2018 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
0 |
0 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
0 |
0 |
2. Estimated Total Revenues |
0 |
5,100,000 |
5,100,000 |
Explanation of above estimates (including long-range effect):
There will be no effect on the General Revenue Fund.
There would be an increase in County Commission revenues of up to $5.1 million if all fifty-five counties increased their rate.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov