W. Va. Code R. § 110-22-3

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

Section 110-22-3 - Taxation Rate

3.1. A state excise tax is levied and imposed on and after midnight of June 30, 1959, upon the privilege of transferring title to real estate by every person who delivers, accepts, or presents for recording, any document referred to in Section 2 of these regulations, or in whose behalf any document is delivered, accepted, or presented for recording.

3.1.1. The rate of tax is one dollar and ten cents ($1.10) for each five hundred dollars ($500) value or fraction thereof as represented by such document as stated in the declaration of value appended thereto, which is a state tax. In addition, by an Act of the 1967 Regular Session of the West Virginia Legislature, on and after January 1, 1968, and additional county excise tax for the privilege of transferring title to real estate is imposed at the rate of fifty-five cents (.55) for each five hundred dollars ($500) or fraction thereof as represented by such document, for a total tax of one dollar and sixty-five cents ($1.65), which shall be payable by the grantor unless the grantee accepts the same without the tax having been paid, in which case the tax shall be paid by grantee at the time of delivery or presenting for recording of such document.

3.1.2. On and after July 1, 1989, the county excise tax of fifty-five cents (55) for each five hundred dollars ($500) of value, or fraction thereof, may be increased to an amount equal to the State excise tax of one dollar and ten cents ($1.10) for each five hundred dollars ($500) of value, or fraction thereof: Provided, that on and after July 1, 2017, the county may increase the excise tax to an amount not to exceed one dollar and sixty-five cents for each five hundred dollars' value, or fraction thereof: Provided, however, That such county excise tax may only be either fifty-five cents (55) or one dollar and ten cents ($1.10) or one dollar and sixty-five cents ($1.65) for each five hundred dollars ($500) of value, or fraction thereof. No such increase in the county excise tax may occur unless approved by a majority vote of the members of the county commission: Provided, That no vote may occur unless the county commission published a notice of its intention to increase such tax, and the proposed effective date of such increase, at least sixty (60) days prior to the meeting where the matter will be considered, the notice was published as a Class I legal advertisement in accordance with W. Va. Code § 59-3-1 et seq., and the publication area is the county in which the county commission is located.

W. Va. Code R. § 110-22-3