West Virginia (Summary)
Tax Type: Current use value and yield tax.
Description: Productivity based on soil survey and a 3.22% yield tax.
Law: WV Legislative Regs., State Tax Div. Title 110, Series 1H
Objective: To give a tax break to forest landowners who would otherwise liquidate their timber and to encourage investment by forest industry in the state.
Forest Tax Program Requirements
Min/Max Acreage: 10
Min. Stocking Growth: 40%
Forest Management Plan: Plan approved by Division of Forestry.
Evidence of Use: Annual
Duration of Enrollment: N/A
Penalties for Use Change: The amount of the penalty is equal to the amount of additional taxes the owner would have paid if written notice had been timely given, plus interest at the rate of 9% per year.
Program Administration
State: State Department of Forestry establishes standards for management plans.
County Tax Assessor and Commissioner: County Tax Assessor determines forest values.
University: N/A
Landowner: N/A
For a more in depth discussion of West Virginia property taxes click here!