Supplement: WV HB4380 | 2024 | Regular Session | Tax & Revenue Department, WV State
For additional supplements on West Virginia HB4380 please see the Bill Drafting List
Bill Title: Provide that you can make monthly payments on property taxes
Status: 2024-01-10 - To House Finance [HB4380 Detail]
Download: West_Virginia-2024-HB4380-Tax_Revenue_Department_WV_State.html
The stated purpose of this bill is to allow for monthly payments on current real and personal property taxes. The revenue gain associated with this bill cannot be determined. The bill would increase revenue with the monthly 2.5 percent convenience fee. However, we do not know how many taxpayers would take advantage of this plan. There would be additional administrative costs due to system changes and an increased volume of tax collections. 㢀
The revenue gain associated with this bill cannot be determined. The bill would increase revenue with the monthly 2.5 percent convenience fee. However, we do not know how many taxpayers would take advantage of this plan. There would be additional administrative costs due to system changes and an increased volume of tax collections. 㢀
The stated purpose of this bill is to allow for monthly payments on current real and personal property taxes. The bill does not designate in which month taxpayers utilizing the monthly payment plans must begin making payments. In addition, the bill does not designate a date by which a taxpayer must pay the taxpayer's monthly payment to prevent delinquency. .
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov
Bill Title: Provide that you can make monthly payments on property taxes
Status: 2024-01-10 - To House Finance [HB4380 Detail]
Download: West_Virginia-2024-HB4380-Tax_Revenue_Department_WV_State.html
FISCAL NOTE
Date Requested: January 18, 2024 Time Requested: 11:10 AM |
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FUND(S):
General Revenue Fund, local governmentsSources of Revenue:
General Fund local property tax revenueLegislation creates:
Creates New Revenue, Increases Existing ExpensesFiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to allow for monthly payments on current real and personal property taxes. The revenue gain associated with this bill cannot be determined. The bill would increase revenue with the monthly 2.5 percent convenience fee. However, we do not know how many taxpayers would take advantage of this plan. There would be additional administrative costs due to system changes and an increased volume of tax collections. 㢀
Fiscal Note Detail
Effect of Proposal | Fiscal Year | ||
---|---|---|---|
2024 Increase/Decrease (use"-") |
2025 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) | |
1. Estmated Total Cost | 0 | 0 | 0 |
Personal Services | 0 | 0 | 0 |
Current Expenses | 0 | 0 | 0 |
Repairs and Alterations | 0 | 0 | 0 |
Assets | 0 | 0 | 0 |
Other | 0 | 0 | 0 |
2. Estimated Total Revenues | 0 | 0 | 0 |
Explanation of above estimates (including long-range effect):
The revenue gain associated with this bill cannot be determined. The bill would increase revenue with the monthly 2.5 percent convenience fee. However, we do not know how many taxpayers would take advantage of this plan. There would be additional administrative costs due to system changes and an increased volume of tax collections. 㢀
Memorandum
The stated purpose of this bill is to allow for monthly payments on current real and personal property taxes. The bill does not designate in which month taxpayers utilizing the monthly payment plans must begin making payments. In addition, the bill does not designate a date by which a taxpayer must pay the taxpayer's monthly payment to prevent delinquency. .
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov