FISCAL NOTE

Date Requested: March 11, 2021
Time Requested: 05:54 PM
Agency: Tax & Revenue Department, WV State
CBD Number: Version: Bill Number: Resolution Number:
1557 Introduced HJR15
CBD Subject:


FUND(S):

General Revenue Fund, local governments

Sources of Revenue:

General Fund local property tax revenue

Legislation creates:

Decreases Existing Revenue, Increases Existing Expenses



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


The stated purpose of this bill is provide for an election to amend the state Constitution to exempt honorably discharged veterans of the Armed Forces of the United States who have been determined to have a 100 percent or more disability from ad valorem property taxation on the assessed value of his or her primary residence plus all personal property. The revenue impact of this proposal on Property Tax collections cannot be determined. We have no data on the value of the real and personal property owned by honorably discharged veterans with 100 percent disability. Additional administrative costs would be minimal.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2021
Increase/Decrease
(use"-")
2022
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 0 0


Explanation of above estimates (including long-range effect):


The revenue impact of this proposal on Property Tax collections cannot be determined. We have no data on the value of the real and personal property owned by honorably discharged veterans with 100 percent disability. Additional administrative costs would be minimal.



Memorandum


The stated purpose of this bill is exempt the first $150,000 of the assessed value of a person’s primary residence in this state if the person is a veteran and is permanently and totally physically or mentally disabled. There is a technical defect in the bill. On page 1, line 26, the resolution omits the year “one thousand nine hundred eighty-two” after the date, “the first day of July.” There is no explanation for this omission of the year, especially as this section is not amended under the resolution.



    Person submitting Fiscal Note: Mark Muchow
    Email Address: kerri.r.petry@wv.gov