W. Va. Code R. § 110-1F-18

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 110-1F-18 - Appraisal Of Property; Date Of Implementation; Assessor To Make Assessments

18.1. Property appraised. -- All property as defined in W. Va. Code '11-1B-3 shall be appraised at its true and actual value as that term is defined in W. Va. Code '11-1A-3(i).

18.2. Implementation of appraisal.

18.2.1. The final valuations arrived at by and through the appraisal process to establish value of all property for the year 1983, as provided for in W. Va. Code '11-1A-1 et seq. and '11-1B-1 et seq., shall be used for ad valorem property taxation in the year for which a lien would attach on July 1, 1987: Provided, That

18.2.1a. The review procedures provided by W. Va. Code '11-1B-1 et seq. have been completed, and

18.2.1b. That the Tax Commissioner has certified to the Governor, President of the Senate and Speaker of the House of Delegates that

18.2.1b.1. With the exception of those matters pending in the circuit courts of this State or on appeal to the Supreme Court of Appeals, the review procedures have been substantially complied with and

18.2.1b.2. The results of those review procedures are substantially correct.

18.2.2. Subsequent to establishing the 1983 base year values, such valuations shall be adjusted by the assessor to reflect any changes in valuations as a result of alterations or accretions, as well as economic and other factors which result in or cause an increase or decrease in the value of any such property or any other divisions, redivision or other change in such property since its reappraisal for the year 1983.

18.2.2a. In the implementation of such adjusted values, the assessor of each of the several counties shall assess the property subject to ad valorem taxation (other than public utility property), in the manner and subject to the procedures for return, assessment, equalization and review provided in Chapter 11 of the Code of West Virginia, at sixty percent (60%) of its market value less such exemptions and allowance for phase in which may be applicable.

18.2.2b. With respect to any property the market value of which has changed since the reappraisal, the assessor shall enter on the statewide data processing system network provided by W. Va. Code '11-1A-21 the basis of any change in value utilized in such assessment. The following methodology should be considered by each assessor prior to changing any valuations.

18.2.2b.1. Land. -- The appraised value of each parcel of land shall be its market value as of July 1, 1983. The appraised value of new parcels of land created subsequent to July 1, 1983 but on or before July 1, 1987, either by

(1) Subdividing an existing parcel into two (2) or more parcels, or by

(2) Consolidating two (2) or more parcels into one (1) parcel, shall be the market value determined as if each resulting parcel or parcels had existed on July 1, 1983.

18.2.2b.2. Existing and altered existing buildings and structures. -- The appraised values of buildings and structures existing on July 1, 1983 shall be the market value of such buildings and structures as of July 1, 1983. The appraised value of buildings and structures existing on July 1, 1983, which are altered subsequent to that date but on or before July 1, 1987, shall be determined as if the building or structure, as altered, had been in existence on July 1, 1983. The values of the many and varied types and sizes of structures have been developed into computer models, and the models have been entered into the network. With the July 1, 1983 value of the original structure having been determined, the physical attributes of the altered structure shall be entered into the network. The preprogrammed cost list and county modifier shall be applied to the model which most closely resembles the altered building or structure, and the amount so determined shall be the adjusted appraised value.

18.2.2b.3. New and altered new buildings and structures. -- The appraised value of new buildings and structures constructed subsequent to July 1, 1983, but on or before July 1, 1987 shall be its market value on July 1, 1983 as if it was in existence on that date. This appraised value shall be determined by applying against the model developed for the type of building or structure, the cost list and county modifier. The appraised value of new buildings and structures constructed subsequent to July 1, 1983, but on or before July 1, 1987 and which are also altered during that time period, shall be the July 1, 1983 market value for the altered new building or structure as if it were in existence on that date. The appraised value of the altered new building or structure shall be determined in the same manner as that for an altered existing building or structure, such method being stated in paragraph 18.2.2b.2 above: Provided, That the appraised value of the new structure has already been entered into the network. If the appraised value of the new building or structure, at the time of alteration, had not been entered into the network, the appraised value of the altered new building or structure shall be determined in the same manner as for a new structure.

18.2.2b.4. Machinery and equipment.

18.2.2b.4a. Existing machinery and equipment shall not be depreciated beyond the July 1, 1983 level, and its appraised value shall be its market value as of July 1, 1983. This market value shall be determined based on generally recognized and accepted machinery and equipment price listing guides, or on price listings compiled by the Tax Commissioner from other reliabile sources, or both. This price information shall either be incorporated into the network or separately maintained.

18.2.2b.4b. The market value of machinery and equipment manufactured and acquired subsequent to July 1, 1983, shall be determined as if such machinery and equipment had been in existence on July 1, 1983. The value of such property shall be based on generally recognized and accepted price listing guides and listings as aforesaid, that provide sufficient information about similar property so as to determine a comparable appraised value.

18.2.2b.5. Motor vehicles, aircraft and watercraft.

18.2.2b.5a. The appraised value of motor vehicles, aircraft and watercraft shall be market value as of July 1, 1983. Such market values shall be obtained from generally recognized and accepted price market values shall be obtained from generally recognized and accepted price listing guides, selected by the Tax Commissioner or price listings compiled by the Tax Commissioner from other reliable sources, or both, for such property and incorporated into the network or separately maintained.

18.2.2b.5b. The appraised value of motor vehicles, air craft and watercraft manufactured and acquired subsequent to July 1, 1983, shall be determined as if such properties were in existence on July 1, 1983. The value of such property shall be obtained from generally recognized and accepted guides and listings as aforesaid, that provide sufficient information about similar property so as to determine a comparable appraised value.

18.2.2b.6. Intangible personal property. -- The appraised value of intangible personal property, regardless of whether it was acquired on or before July 1, 1983, or subsequent to July 1, 1983, shall be its market value as of July 1, 1983. The market value of such property shall be obtained from the sources provided in Series IA, '11.11 (1984). The market value of such intangible personal property shall not be subject to appraisement or ad valorem taxation after July 1, 1987.

18.2.2b.7. Livestock and agricultural products. -- The appraised value of livestock and products of agriculture, regardless of whether it was acquired on or before July 1, 1983 or subsequent to July 1, 1983, shall be its market value as of July 1, 1983. The market value of such property shall be the price for such properties as they are listed on a nationally recognized commodities market at the close of business on July 1, 1983.

18.2.2b.8. Natural resource properties. -- The appraised value of natural resources properties existing on July 1, 1983, shall be its market value as of July 1, 1983, such value being determined in the manner described in Series IA, ''11.4, 11.5, 11.6, 11.7 and 11.8 (1984). For natural resource properties acquired or developed subsequent to July 1, 1983, the appraised value shall be its market value as of July 1, 1983, such value being calculated in accordance with the above cited Legislative Regulations, and discounted utilizing the appropriate factors as developed by the Tax Commissioner.

18.3. Assessor justification for valuation changes. -- The assessor shall provide the Tax Commissioner with any information, findings, or reasons relied upon by the assessor in increasing or decreasing values as a result of economic or other factors if applied by the assessor to any species or class of property generally or uniformly.

18.4. Assessor discovery responsibilities.

18.4.1. County assessors shall be responsible for discovering all new construction and all alterations or real property (including public utility real property) having a tax situs in their county, except for alterations to real property owned by a governmental entity that is exempt from ad valorem property taxes. County assessors shall also be responsible for discovering all new personal property (tangible and intangible) having a tax situs in their county, and for discovering all alterations in personal property (tangible and intangible) having a tax situs in their county.

18.4.2. Immediately upon discovery of any new property or discovery of any alterations in property having a tax situs in their county, the county assessor shall enter all such new property and alterations of existing property into the network. This is essential in order to assure that all physical characteristics of property, the ownership thereof and valuation information are available for the annual assessment process.

18.4.3. The Tax Commissioner shall be responsible for reviewing such information entered by the county assessors under subparagraph 18.4.2 to insure its completeness and accuracy. This review may be conducted through selective sampling or by such other means as the Tax Commissioner believes to be prudent, expeditious and cost effective.

W. Va. Code R. § 110-1F-18