The proposed bill aims to amend the Code of West Virginia by introducing a new article that prohibits counties and municipalities from double-taxing residential rental properties. The legislation emphasizes the importance of making rent payments more affordable for West Virginia residents by ensuring that taxes on rental properties are assessed at the same rate as owner-occupied housing. Specifically, it states that no additional property taxes can be levied on residential rental properties based on zoning, thereby preventing any financial burden that could lead to increased rent.

Additionally, the bill outlines the authority of the commission to establish necessary rules for implementing these provisions, including procedures for property assessment changes and classification forms for future reporting. It clarifies that the new regulations will not affect the assessment of sales and service taxes for businesses. Overall, the bill seeks to create a more equitable taxation framework for residential rental properties, ultimately benefiting tenants by keeping rental costs manageable.

Statutes affected:
Introduced Version: 11A-5-1, 11A-5-2, 11A-5-3