West Virginia Code 20-5-6 – Tax exemption
The exercise of the powers granted to the director herein will be in all respects for the benefit of the people of the state, for the improvement of their health, safety, convenience and welfare and for the enhancement of their recreational opportunities and is a public purpose. As the operation and maintenance of park development projects will constitute the performance of essential government functions, the director shall not be required to pay any taxes or assessments upon any park development projects or upon any property acquired or used by the director or upon the income therefrom, other than taxes collected from the consumer pursuant to article fifteen, chapter eleven of this code. The bonds and notes and all interest and income thereon shall be exempt from all taxation by this state or any county, municipality, political subdivision or agency thereof, except inheritance taxes.
Terms Used In West Virginia Code 20-5-6
- Agency: means any branch, department or unit of the state government, however designated or constituted. See West Virginia Code 20-1-2
- Bonds: shall mean bonds issued by the director. See West Virginia Code 20-5-4
- Director: means the Director of the Division of Natural Resources. See West Virginia Code 20-1-2
- 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