This bill proposes amendments to West Virginia's Code regarding the assessment of buildings used solely for agricultural purposes. Starting January 1, 2027, such buildings on qualified farmland will be assessed at their salvage value for ad valorem real property tax purposes. Furthermore, beginning January 1, 2029, these buildings will be entirely exempt from any valuation in the assessment of ad valorem property tax. The bill specifies that buildings qualifying for this assessment include barns, stables, chicken houses, milking parlors, and other structures used for agricultural production or storage.

The bill also includes a provision that allows assessors to back tax any omitted buildings in the same manner as personal property. The language of the current law is amended to reflect these changes, with new insertions clarifying the assessment process and the types of buildings that qualify for the salvage value assessment and subsequent exemption. Overall, the bill aims to provide financial relief to agricultural property owners by reducing the tax burden associated with their agricultural buildings.

Statutes affected:
Introduced Version: 11-4-10