Tax & Accounting Blog

Legislative Rule Amended for the Valuation of Commercial and Industrial Property in West Virginia

Blog, ONESOURCE, ONESOURCE Property Tax June 7, 2013

Legislative Rule 110-01P (110-CSR-1P) has been amended, in part, to stipulate that when valuing commercial and industrial furniture & fixtures, machinery & equipment and leasehold improvement, the cost approach may be used due to the availability of data.  Also, when developing depreciation tables, the Marshall Valuation Service will be used.  (Source: L. 2013, Rule 110-01P (110-CSR-1P), effective 7/1/2013)