West Virginia Code 11-3-15b – Notice of increase in assessed value of business personal property
(a) On or before January 15 of the tax year, the assessor shall mail a notice of assessed value to any corporation, partnership, limited partnership, limited liability company, firm, association, company or other form of organization engaging in business activity in the county showing the aggregated assessed value of taxpayer's tangible personal property situated in the county on the assessment date, if known, that is not appraised by the Tax Commissioner: Provided, That notice is only required if:
Terms Used In West Virginia Code 11-3-15b
- Association: means a partnership, limited partnership or any other form of unincorporated enterprise, owned or conducted by two or more persons. See West Virginia Code 11-22-1
- Commissioner: means the State Tax Commissioner. See West Virginia Code 11-22-1
- Limited liability company: means a limited liability company organized under the laws of this state, the United States or by any other state, territory or the District of Columbia. See West Virginia Code 11-22-1
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means every natural person, association or corporation. See West Virginia Code 11-22-1
- Personal property: All property that is not real property.
- personal property: includes goods, chattels, real and personal, money, credits, investments, and the evidences thereof. See West Virginia Code 2-2-10
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
- Tax year: means the calendar year following the July first assessment day or, in the case of a public service business assessed pursuant to article six of this chapter, the calendar year beginning on the January first assessment day. See West Virginia Code 11-5-3
- Value: means in the case of any document not a gift, the amount of the full actual consideration for the document, paid or to be paid, including the amount of any lien or liens assumed. See West Virginia Code 11-22-1
(1) The aggregated assessed value of taxpayer's tangible personal property used in business activity is more than ten percent greater than the aggregated assessed value of the property in the prior tax year; and
(2) The aggregated assessed value of property has increased by more than $100,000 since the prior tax year.
However, this notification requirement does not apply to industrial or natural resources personal property that is appraised by the Tax Commissioner under article six-k of this chapter which is assessed at sixty percent of its true and actual value.
(b) The assessor shall include in the assessment notice:
(1) The assessed value of the property for the preceding assessment year;
(2) The proposed assessed value of the property for the current assessment year;
(3) The classification of the property pursuant to section one, Article X of the Constitution of this state;
(4) The mailing date of the notice; and
(5) The last date on which the taxpayer may file a petition for review with the assessor from the valuation or classification assigned to the property.
(c) The notice required by this section shall be: (1) In writing, in the form prescribed by the Tax Commissioner, and mailed to the taxpayer's last known mailing address; or (2) by electronic notification.
(d) No later than the sixteenth day of the tax year, the assessor shall certify to the county commission and to the Tax Commissioner the date on which all notices under this section were mailed.
(e) After the mailing date of the notice any person who owns, claims, possesses or controls property that is valued by the assessor may inquire of and be advised by the assessor as to the valuation of the property determined by the assessor.
(f) The owner or person in possession of the tangible personal property may petition the assessor for review as provided in section fifteen-d of this article.