WV Legislature Takes Up Bungled NatGas Property Tax in December

West Virginia, the state legislature in particular, is up to its collective neck in a mess of its own making. The legislature passed House Bill (HB) 2581 on the last day of the annual WV legislative session in April. HB 2581 changes how the State Tax Department values producing oil and gas wells for property tax purposes (see WV Passes Bill to Change O&G Well Valuations for Taxes). The bill was supposed to streamline and provide a fairer system for assessing taxes on oil and gas production. It seems to have done the opposite, creating a complex system that is currently mired in controversy with both drillers and landowners confused about how much of a tax bill they will owe next year. Next month the legislature will revisit HB 2581 and decide whether to fix it, or throw it out and start over.

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