By Mike Tony, Charleston Gazette-Mail
CHARLESTON, W.Va. — A West Virginia House of Delegates committee has advanced the same coal industry-friendly bill that drew opposition last legislative session from lawmakers representing coal-producing counties after state tax officials estimated it would cost local governments $12 million in 2022
In a 12-11 vote Tuesday afternoon, the House Energy and Manufacturing Committee approved House Bill 2493, which would change the state Tax Department’s methodology for evaluating coal properties.
The Tax Department estimated in a fiscal note for HB 2493 last year that it would initially reduce property tax revenue by roughly $12 million for local governments in 2022, with a change in property tax revenue in future years dependent on market conditions.
The fiscal note projected that the bill would result in less-predictable income streams for local governments by ending the department’s practice of using a three-year average time frame for valuation…
To read more: https://www.wvgazettemail.com/news/legislative_session/wv-house-committee-advances-coal-property-tax-bill-previously-estimated-to-cost-local-governments-12m/article_b5bb77d2-e829-56fb-bea1-c550ba5fef34.html