WV Legislature Rejects NatGas Property Tax Rule, Do-Over in 2022

The West Virginia State Legislature passed House Bill (HB) 2581 on the last day of the annual WV legislative session in April 2021. 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 did 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 this year. Yesterday the legislature voted to scrap HB 2581 and start over in the new legislative session set to begin this Wednesday.

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