HB 4928
To end double taxation on rental properties
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill aims to prevent double taxation on rental properties in West Virginia. It prohibits counties and municipalities from imposing additional property taxes on rental properties beyond what would be assessed for owner-occupied housing. The bill also establishes a process for the commission to create rules related to property assessments and reporting. The goal is to potentially lower rental costs for tenants by reducing the financial burden on landlords.
Key provisions
- Prohibits counties and municipalities from assessing additional property taxes on residential rental properties based on zoning.
- Requires county and municipal property tax rates on rental properties to be the same as for owner-occupied housing.
- Establishes a process for the commission to create rules regarding property assessments and reporting.
- Specifies that this bill does not affect sales and service taxes for businesses.
Who is affected
- Landlords of residential rental properties
- County governments
- Municipal governments
- Tenants of residential rental properties
Notable changes
- Creates a new legal framework to address double taxation of rental properties.
- Standardizes property tax assessment for rental properties compared to owner-occupied housing.
Fiscal impact
The bill’s fiscal impact is intended to lower rental costs for tenants.
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