Authorizes the West Virginia Tax Department to create rules for valuing timberland and managed timberland.
The bill authorizes the West Virginia Tax Department to create a legislative rule for the valuation of timberland and managed timberland. This rule is intended to provide a framework for assessing the value of these types of land for tax purposes. The rule is authorized under Section 11-1C-11b of the West Virginia Code and will be published in the State Register.
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