Excise Tax Increase Passed For Tyler County
An excise tax has recently passed in Tyler County. The purpose of the tax increase is to establish a mechanism for the State Auditor to identify debtor vendors to the State and recover debt owed to the State of West Virginia.
The bill allowed counties to increase the excise tax on the privilege of transferring real property to keep the county rate the same as the state rate. The old rate for the excise tax was $1.10 per 500 dollars of property value.
The new rate is in the amount of $1.65 per 500 dollars of value.
An increase of 55 cents per 500 dollars of value. The county excise tax may not be increased in any county unless the increase is approved by a majority vote of the county commission of such county.
Any county commission intending to increase the excise tax imposed in its county shall publish a notice of its intention to increase such tax not less than thirty days nor more than sixty days prior to the meeting at which such increase will be considered, such notice to be published as a Class 1 legal advertisement in compliance with the provisions of article three, chapter fifty-nine of this code and the publication area shall be the county in which such county commission is located.