West Virginia Code 31-18-18 – Tax exemption
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The Housing Development Fund shall not be required to pay any taxes and assessments to the State of West Virginia, or any county, municipality or other governmental subdivision of the State of West Virginia, upon any of its property or upon its obligations or other evidences of indebtedness pursuant to the provisions of this article, or upon any moneys, funds, revenues or other income held or received by the Housing Development Fund. The notes and bonds of the Housing Development Fund and the income therefrom shall at all times be exempt from taxation, except for death and gift taxes, taxes on transfers, sales taxes, real property taxes and business and occupation taxes.
Terms Used In West Virginia Code 31-18-18
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Housing Development Fund: means the West Virginia Housing Development Fund heretofore created and established by §. See West Virginia Code 31-18-3
- 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