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 property assessments cannot be increased solely to create new revenue sources and emphasizes the need for justifiable reasons for any assessment increases.

Furthermore, the bill stipulates that any increase in assessed property value must be based on a periodic review, evaluation, and inspection of the property, adhering to a three-year inspection cycle. The reasons for any increased assessments must be publicly announced and made accessible to ensure transparency. This legislative measure seeks to protect property owners from unjust assessments and promote fairness in the property valuation process.

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