West Virginia Code 11-1-2b – Housing index requirements
(a) For purposes of this section only annually, on or before January 1, the Tax Commissioner shall create a single dwelling residential housing index which shall contain the cost of all single dwelling residential housing in the state. The index shall list the average and median cost of single dwelling residential housing by county and by square footage, if available, commencing with the most expensive to the least expensive.
Terms Used In West Virginia Code 11-1-2b
- Commissioner: means the State Tax Commissioner. See West Virginia Code 11-22-1
- Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
- 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
- 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
(b) For purposes of this section only, the Tax Commissioner shall also, annually, on or before January 1, establish:
(1) A single dwelling residential housing index multiplier;
(2) The average and median cost of single dwelling residential housing in the state;
(3) The multiplier needed to equal the housing cost in the least expensive county to the most expensive county;
(4) Whether the average and median cost of single dwelling residential housing in a county is above or below the average and median cost for the entire state; and
(5) A table indicating:
(A) The average and median cost of single dwelling residential housing in the state; and
(B) The multiplier for each county, comparing the statewide average and median cost of single dwelling residential housing with a multiplier calculated in relation to the average value.
(c) For purposes of this section only, the Tax Commissioner shall annually, on or before December 31 of each year, provide the single dwelling residential housing index and multiplier to the Joint Committee on Government and Finance and also make it available to the public.