Bill > HB5014

This bill modifies real property tax requirements for farm structures by exempting them from taxation, with a phased-in approach to this exemption. Specifically, starting in calendar year 2026, taxes on farm structures will be reduced by 33 percent, followed by a 67 percent reduction in 2027, and a complete elimination of taxes in 2028. This exemption applies to farm structures located on agricultural land, as defined by West Virginia law, and used for activities related to the production, marketing, storage, processing, manufacturing, or distribution of agricultural products. However, this exemption does not apply to commercial solar installations, commercial wood processing facilities, or facilities rented for meetings or events. The bill also clarifies that individuals primarily engaged in forestry or timber growing are not considered to be engaged in farming, and corporations are only considered to be farming if their principal activity is farming and, if owned by another corporation, that parent corporation is also primarily engaged in farming.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=5014&year=2026&sessiontype=RS&btype=bill