SB 300
Tax Department rule relating to valuation of public utility property for ad valorem property tax purposes
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill authorizes the West Virginia Tax Department to create a rule that explains how public utility property, such as power lines and water systems, will be valued for property tax purposes. The rule will be based on existing guidelines and will be reviewed and approved by the Legislative Rule-Making Review Committee. This aims to provide clarity and consistency in assessing taxes on these types of assets.
Key provisions
- Authorizes the Tax Department to develop a rule.
- The rule will address the valuation of public utility property.
- The rule will be based on existing guidelines.
- The rule will be reviewed by the Legislative Rule-Making Review Committee.
Who is affected
- Property owners
- Public utility companies
- West Virginia Tax Department
- Taxpayers
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