West Virginia Code — Chapters 11 / 11A / 11B (Taxation)
W. Va. Code § 11-1A-10
Valuation of farm property
# (a)
With respect to farm property, the Tax Commissioner shall appraise such property so as to ascertain its fair and reasonable value for farming purposes regardless of what the value of the property would be if used for some other purpose, and the value shall be arrived at by giving consideration to the fair and reasonable income which the property might be expected to earn in the locality wherein situated, if rented. The fair and reasonable value for farming purposes shall be deemed to be the market value of such property for appraisement purposes.
# (b)
A person is not engaged in farming if he is primarily engaged in forestry or growing timber. Additionally, a corporation is not engaged in farming unless its principal activity is the business of farming, and in the event that the controlling stock interest in the corporation is owned by another corporation, the corporation owning the controlling interest must also be primarily engaged in the business of farming.
Source: view the official text
In this chapter (40 sections)
- 11-1-2 · General duties and powers of commissioner; appraisers
- 11-1-2A · Refund of taxes erroneously collected
- 11-1-2B · Housing index requirements
- 11-1-3 · Aiding board of public works, Auditor and treasurer
- 11-1-4 · Biennial report of commissioner; fiscal officers to furnish…
- 11-1-4A · Powers of Tax Commissioner as to tax and revenue statistics
- 11-1-5 · Misconduct or negligence of officers
- 11-1-6 · Forms and instructions for assessors
- 11-1-7 · Assistance to commissioner by prosecuting attorney
- 11-1-8 · 11-1-8
- 11-1-9 · Holders of short-term permits and licenses to sell; rulemaking
- 11-1A-1 · Tax Commissioner to appraise property to ascertain value;…
- 11-1A-2 · Base year for first reappraisal
- 11-1A-3 · Definitions
- 11-1A-4 · Identification of property to be appraised; persons required…
- 11-1A-5 · Property excepted from listing for appraisal
- 11-1A-6 · Supplemental information required to be filed
- 11-1A-7 · When valuations not certified
- 11-1A-8 · Ascertainment of assessed value as of July 1, 1983
- 11-1A-9 · Subsequent alterations in property; economic change
- 11-1A-10 · Valuation of farm property
- 11-1A-11 · Valuation of certain classes or species of property; reserve…
- 11-1A-12 · Division of functions between the Tax Commissioner and…
- 11-1A-13 · Assurance of fair treatment
- 11-1A-14 · Release of results of statewide reappraisal; legislative…
- 11-1A-15 · Appraisal of property; lists to county officials
- 11-1A-16 · Administrative review of appraisal
- 11-1A-17 · Review of appraisal by the county commission sitting as an…
- 11-1A-18 · Review by circuit court on certiorari
- 11-1A-19 · Subsequent statewide reappraisals required
- 11-1A-20 · Cooperation of other agencies of state and local government
- 11-1A-21 · Electronic data processing system network for property tax…
- 11-1A-22 · Phase-in, determination thereof, application and limitations
- 11-1A-23 · Confidentiality and disclosure of property tax returns and…
- 11-1A-24 · Creation and use of appraisal manual
- 11-1A-25 · 11-1A-25
- 11-1A-26 · Appraisal of corporate property; reports to Tax Commissioner…
- 11-1A-27 · 11-1A-27
- 11-1A-28 · Review appraisal requirements; qualifications of review…
- 11-1A-29 · Requirements for state employees and employees of designated…