HB 5532
Prohibiting counties from double-taxing 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 West Virginia counties and municipalities from imposing double taxes on rental properties. It seeks to ensure that landlords can maintain affordable rent prices for West Virginia residents by aligning property tax assessments with those of owner-occupied housing. The bill establishes rules for how these properties are assessed and clarifies that sales and service taxes are not affected.
Key provisions
- Property taxes on rental properties must be assessed at the same rate as owner-occupied housing.
- Counties and municipalities cannot add additional taxes based on zoning classifications for rental properties.
- The bill creates new sections of law to address this issue.
- A commission will be responsible for developing rules to implement the provisions of the bill.
- The commission must submit proposed rules to the Legislative Rule-Making Review Committee.
- The bill clarifies that sales and service taxes are not impacted.
- The bill’s purpose is to lower rent for tenants.
Who is affected
- Landlords of residential rental properties
- County and municipal governments
- West Virginia residents paying rent
Notable changes
- Establishes a new legal framework to prevent double taxation of rental properties.
- Aligns property tax assessment for rental properties with owner-occupied housing.
Sponsors
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Primary sponsor
Cosponsor
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