This bill aims to amend the Code of West Virginia by introducing a new section, 11-1C-9a, which focuses on the fair and equitable assessment of real property. The legislation articulates the Legislature's findings that arbitrary and unjustified increases in property assessments are unfair and should be deemed unlawful. It establishes that increasing the assessed value of real property solely to create new revenue sources is prohibited.

Furthermore, the bill stipulates that any increase in property assessments must be based on a periodic review, evaluation, and inspection of the property, adhering to a three-year inspection cycle. It mandates that the reasons for any increased assessments must be justified and made publicly available, ensuring transparency in the assessment process.

Statutes affected:
Introduced Version: 11-1C-9a