West Virginia Code 36A-7-1 – Assessments and taxes
Each unit and its proportionate undivided interest in the common elements as determined by the declaration and any amendments thereof shall be assessed and taxed for all purposes as a separate parcel of real estate entirely independent of the building or property of which the unit is a part. Neither the building, the property nor any of the common elements shall be assessed or taxed separately after the declaration and declaration plan are recorded, nor shall the same be subject to assessment or taxation, except as the units and their proportionate undivided interests in the common elements are assessed and taxed pursuant to the provisions of this section.
Terms Used In West Virginia Code 36A-7-1
- Building: means any multiunit building or buildings or complex thereof, whether in vertical or horizontal arrangement, as well as other improvements comprising a part of the property and used or intended for use for residential, commercial or industrial purposes or for any other lawful purpose or for any combination of such uses. See West Virginia Code 36A-1-2
- Common elements: means and includes:
(i) The land on which the building is located and portions of the building which are not included in a unit. See West Virginia Code 36A-1-2
- Declaration: means the instrument by which the owner of property submits it to the provisions of this chapter as hereinafter provided, and all amendments thereof. See West Virginia Code 36A-1-2
- Declaration plan: means a survey of the property prepared in accordance with section two, article four, of this chapter. See West Virginia Code 36A-1-2
- Property: means and includes the land, the building, all improvements thereon, all owned in fee simple, and all easements, rights and appurtenances belonging thereto, which have been or are intended to be submitted to the provisions of this chapter. See West Virginia Code 36A-1-2
- Recorded: means that an instrument has been duly entered of record in the office of the clerk of the county court of the county in which the property is situate. See West Virginia Code 36A-1-2
- Unit: means a part of the property designed or intended for any type of independent use, which has a direct exit to a public street or way, or to a common element or common elements leading to a public street or way, or to an easement or right-of-way leading to a public street or way, and includes the proportionate undivided interest in the common elements which is assigned thereto in the declaration, or any amendments thereof. See West Virginia Code 36A-1-2