Senate Bill No. 589
(By Senators Craigo, Bailey, Bowman, Ross, Dittmar, Kessler,
Dugan, Scott, Deem, Sharpe, Helmick, Schoonover, Love, Ball,
Buckalew, McKenzie, Sprouse, Kimble, Walker, Snyder and Plymale)
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[Introduced February 18, 1998; referred 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 fourteen, 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 eleven be amended by adding thereto a new section, designated section
fourteen, 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.
§11-5-14. 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.
§11-4-21 and §11-5-14 are new; therefore, strike-throughs and
underscoring have been omitted.
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