Spilman News Alert: Due Dates of 2012 W.Va. Property Tax Reports Accelerated   

 

Property tax reports filed annually in W.Va. with the county assessor or the Tax Commissioner have accelerated due dates for the 2012 property tax year. Accelerated due dates apply to producers of natural resources, except for producers of gas and oil and managed timberland, commercial businesses and industrial businesses. Key dates are:

 

• May 1, 2011 - Owners and operators of actively mined coal property or other minerals, except natural gas, oil and managed timber, must file reports with Tax Commissioner.  
• July 1, 2011 - Property is assessed as of this day for 2012 property taxes.  
• August 1, 2011 - Owners of producing and reserve oil and natural gas properties and owners of industrial real and tangible personal property must file property reports with Tax Commissioner.  
• September 1, 2011 - Corporations and unincorporated businesses including sole proprietors, except unincorporated farms, must file annual commercial property reports with county assessors.  
• October 15, 2011 -Tax Commissioner must issue notices of tentative appraised values to owners of industrial property and to owners of natural resource real property, except for owners of oil, natural gas or managed timberland property.  
• November 15, 2011 - Owners of industrial tangible property and owners of natural resource real property, except for oil, natural gas and managed timberland, may seek informal review of the tentative appraised values by filing a petition for informal review with the Commissioner and serving a copy on the county assessor. County assessors may also seek informal review of these tentative appraised values.  
• December 1, 2011 - Tax Commissioner must complete appraisals of oil, natural gas and managed timberland properties.  
• December 15, 2011 - Tax Commissioner must finalize appraised values of all property appraised by his office and furnish the values to county assessors.

Also new for 2012, taxpayers can elect to file a valuation protest with the county commission sitting as a board of equalization and review by February 20, 2012. By making this election, taxpayers will have the valuation protest evidentiary hearing in October of 2012, before the county commission sitting as a board of assessment appeals. Caveat: While there are several advantages to making this election, a disadvantage is that a taxpayer making the election is required to pay 2012 property taxes in a timely manner, as they become due during the pendency of the appeal. Failure to make timely tax payments is grounds for dismissal of the appeal. If taxes are overpaid, the taxpayer will be entitled to a credit or refund as ordered by the county commission - or the court, in the event of a judicial appeal.