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HB 2496

To allow quarterly payments on real estate taxes

2025 Regular Session Introduced by George Street

House Bill 2496 allows West Virginia property owners to pay real estate taxes in quarterly installments, easing financial burdens and offering a 2.5% early payment discount.

To House Finance
#counties #realandpersonalproperty #taxation
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Bill Summary · HB 2496

Summary of House Bill 2496

Bill Number: HB 2496
Title: To Allow Quarterly Payments on Real Estate Taxes
Status: To House Finance
Introduced: February 3, 2025
Classification: Bill
Subject: Counties, Real and Personal Property, Taxation

Purpose and Intent

House Bill 2496 aims to amend the existing tax code in West Virginia to allow property owners to pay their real estate taxes in quarterly installments instead of the traditional semi-annual payments. This change is intended to provide greater flexibility for taxpayers, making it easier for them to manage their financial obligations related to property taxes.

Key Provisions

The bill proposes the following changes to the payment structure for real estate taxes:

  1. Quarterly Installments:

    • Property taxes assessed on real and personal property can be paid in four quarterly installments.
    • The payment schedule is as follows:
      • 1st Installment: Due on September 1; delinquent after October 1.
      • 2nd Installment: Due on December 1; delinquent after January 1.
      • 3rd Installment: Due on March 1; delinquent after April 1.
      • 4th Installment: Due on July 1; delinquent after August 1.

  2. Discount for Early Payment:

    • Taxpayers who pay their installments on or before the due date will receive a 2.5% discount on the amount due.

  3. Interest on Delinquent Payments:

    • If taxes are not paid by the delinquency date, an interest rate of 9% per annum will be applied from the date of delinquency until the taxes are paid.

  4. Notification Requirements:

    • The sheriff is required to provide notice of tax payment deadlines and locations for payment collection, ensuring taxpayers are informed of their obligations.

  5. Payment Methods:

    • The sheriff may accept credit card payments for taxes, with the option to impose a fee equivalent to the transaction cost incurred.

Who Would Be Affected

  • Property Owners: The primary beneficiaries of this bill are property owners in West Virginia who will have more flexible payment options for their real estate taxes.
  • County Sheriffs: The bill will also impact county sheriffs, who will be responsible for implementing the new payment structure and notifying taxpayers.

Procedural Aspects

  • Legislative Timeline:
    • February 3, 2025: Bill filed with the Clerk by Rep. Steven Reick.
    • February 4, 2025: First reading and referred to the Rules Committee.
    • February 17, 2025: Bill introduced in the House and referred to the Finance Committee for further consideration.

Conclusion

House Bill 2496 represents a significant shift in the way property taxes can be managed in West Virginia, potentially easing the financial burden on taxpayers by allowing for quarterly payments. The bill is currently under review by the House Finance Committee, and its passage could lead to a more manageable tax payment system for property owners across the state.

Compiled from official sources — confirm details with the bill’s official record.

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