H. B. 2050
(By Delegate Boggs)
[Introduced January 9, 2008; referred to the
Committee on Political Subdivisions then the Judiciary.]
A BILL to amend and reenact §11-3-1 of the Code of West Virginia,
1931, as amended, relating to authorizing county tax assessors
to choose not to impose the property tax in a county on
businesses for property that is business inventory intended
for resale.
Be it enacted by the Legislature of West Virginia:
That §11-3-1 of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 3. ASSESSMENTS GENERALLY.
§11-3-1. Time and basis of assessments; true and actual value;
default; reassessment; special assessors.
All property shall be assessed annually as of the first day of
July at its true and actual value; that is to say, at the price for
which such property would sell if voluntarily offered for sale by
the owner thereof, upon such terms as such property, the value of which is sought to be ascertained, is usually sold, and not the
price which might be realized if such property were sold at a
forced sale, except that the true and actual value of all property
owned, used and occupied by the owner thereof exclusively for
residential purposes shall be arrived at by giving primary, but not
exclusive, consideration to the fair and reasonable amount of
income which the same might be expected to earn, under normal
conditions in the locality wherein situated, if rented:
Provided,
That the true and actual value of all farms used, occupied and
cultivated by their owners or bona fide tenants shall be arrived at
according to the fair and reasonable value of the property for the
purpose for which it is actually used regardless of what the value
of the property would be if used for some other purpose; and that
the true and actual value shall be arrived at by giving
consideration to the fair and reasonable income which the same
might be expected to earn under normal conditions in the locality
wherein situated, if rented:
Provided, however, That nothing
herein shall alter the method of assessment of lands or minerals
owned by domestic or foreign corporations. The taxes upon all
property shall be paid by those who are the owners thereof on that
day, whether it be assessed to them or others. If at any time
after the beginning of the assessment year, it be ascertained by
the Tax Commissioner that the assessor, or any of his
or her
deputies, is not complying with this provision or that he
or she has failed, neglected or refused, or is failing, neglecting or
refusing after five days' notice to list and assess all property
therein at its true and actual value, the Tax Commissioner may
order and direct a reassessment of any or all of the property in
any county, district or municipality, where any assessor, or
deputy, fails, neglects or refuses to assess the property in the
manner herein provided. And, for the purpose of making such
assessment and correction of values, the Tax Commissioner may
appoint one or more special assessors, as necessity may require, to
make such assessment in any such county, and any such special
assessor or assessors, as the case may be, shall have all the power
and authority now vested by law in assessors, and the work of such
special assessor or assessors shall be accepted and treated for all
purposes by the county boards of review and equalization and the
levying bodies, subject to any revisions of value on appeal, as the
true and lawful assessment of that year as to all property valued
by him or them. The Tax Commissioner shall, with the approval of
the Board of Public Works, fix the compensation of all such special
assessors as may be designated by him
or her, which, together with
their actual expenses, shall be paid out of the county fund by the
county commission of the county in which any such assessment is
ordered, upon the receipt of a certificate of the Tax Commissioner
filed with the clerk of the county commission showing the amounts
due and to whom payable, after such expenses have been audited by the county commission.
Any assessor who knowingly fails, neglects or refuses to
assess all the property of his
or her county, as herein provided,
shall be guilty of malfeasance in office, and, upon conviction
thereof, shall be fined not less than one hundred nor more than
five hundred dollars, or imprisoned in
the county jail not less
than three nor more than six months, or both, in the discretion of
the court, and upon conviction, shall be removed from office.
Notwithstanding any provision in this code to the contrary,
with respect to property which is business inventory intended for
resale by a business, the assessor may choose not to impose the
property tax as outlined in this section for this business
inventory property for a particular county.
NOTE: The purpose of this bill is to authorize county tax
assessors to choose not to impose the property tax in a county on
businesses for property that is business inventory intended for
resale.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.