West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-01E - Review of Appraisals by the County Commission Sitting as an Administrative Appraisal Review Board
Section 110-1E-2 - Definitions

Universal Citation: 110 WV Code of State Rules 110-1E-2

Current through Register Vol. XLI, No. 38, September 20, 2024

As used in this section, unless the context clearly requires a different meaning.

2.1. "Assessed Value" of any item of property is its assessed value after the certification of the first statewide reappraisal and shall be sixty percent (60%) of the market value of such item of property regardless of its class or species, except as hereinafter specifically provided in this section.

2.2. "Good Cause." The term "Good Cause" shall mean such sufficient cause or reason set forth by a protestor or intervenor as will allow the county commission, in its discretion, to preliminarily determine that the petitioner has properly stated a claim alleging an incorrect valuation of property. When a petition to protest or intervene sets forth facts which, if proved, would entitle the petitioner to have a valuation changed, and the county commission thus has a reasonable ground for belief that a proper claim exists, then good cause has been established.

2.3. "Intervenor." The term "Intervenor" shall mean any taxpayer of ad valorem property tax in any West Virginia county who was not involved in the initial petition for a hearing before the county commission but request permission to participate in the proceedings.

2.4. "Protestor." The term "Protestor" shall mean any taxpayer of ad valorem property tax in any West Virginia county who petitions the county commission to hold a hearing to hear challenges to the appraisal of property other than property the taxes for which he is liable.

2.5. "Tax Commissioner." The term "Tax Commissioner" shall mean the State Tax Commissioner of West Virginia or his delegate and the mailing address for the Tax Commissioner's office is: P.O. Box 2389, Charleston, West Virginia 25328.

2.6. "Value," "Market Value" and "True and Actual Value" shall have the same meaning and shall mean the price at or for which a particular parcel or species of property would sell if it were sold to a willing buyer by a willing seller in an arms length transaction without either the buyer or the seller being under any compulsion to buy or sell: Provided, That in determining value, primary consideration shall be given to the trends of price paid for like or similar property in the area or locality wherein such property is situate over a period of not less than three (3) nor more than eight (8) years next preceding the base year and in the case of a farm or farms shall be determined assuming such land is being used for farming purposes. In addition, the commissioner may, for purposed of appraisement of any tract or parcel of real property, or chattels, real or other species of property, real or personal, take into account one (1) or more of the following factors:

(1) The location of such property;

(2) its site characteristics;

(3) the ease of alienation thereof, and the extent to which the same may be the subject of either dominant or servient easements;

(4) the quantity of size of the property and the impact which its sale may have upon surrounding properties;

(5) if purchased within the previous eight (8) years, the purchase price thereof and the date of each such purchase;

(6) recent sale of, or other transaction involving, comparable property within the next preceding eight (8) years;

(7) the value of such property to its owner;

(8) the condition of such property;

(9) the income, if any, which the property actually produces and has produced within the next preceding eight years; and

(10) any commonly accepted method of ascertaining the market value of any such property, including techniques and methods peculiar to any particular species of property if such technique or method is used uniformly and applied to all property of like species.

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