FISCAL NOTE
Date Requested: January 11, 2023
Time Requested: 10:54 PM |
| Agency: |
Tax & Revenue Department, WV State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1685 |
Introduced |
|
SJR2 |
|---|
| 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 to amend the Constitution to authorize the Legislature to exempt veterans from payment of all or part of ad valorem taxes if the veteran has a service-related disability of 100 percent.
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 |
2023
Increase/Decrease
(use"-") |
2024
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
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov