HB 5014
Modification to real property tax requirements for farm structures
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies West Virginia’s real property tax laws to provide a phased reduction and eventual elimination of property taxes on farm structures. Specifically, it reduces the current ad valorem real property taxes on farm structures by 33% in 2026 and 67% in 2027, with full elimination occurring thereafter. The bill clarifies definitions related to farming and excludes certain facilities like commercial solar installations and event venues from the tax reduction.
Key provisions
- Reduces farm structure property taxes by 33% in 2026.
- Reduces farm structure property taxes by 67% in 2027.
- Eliminates farm structure property taxes entirely after 2027.
- Defines ‘farming’ and clarifies exemptions for forestry and timber growing.
- Excludes commercial solar installations from the tax reduction.
- Excludes commercial wood processing facilities from the tax reduction.
- Excludes facilities rented for meetings or events from the tax reduction.
Who is affected
- Farmers
- Agricultural landowners
- Taxpayers in West Virginia
Notable changes
- Phased reduction of farm structure property taxes.
- Elimination of farm structure property taxes after a transition period.
- Clarification of the definition of ‘farming’.
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