W.Va. utility property assessments hit $8.9B
CHARLESTON (AP) — The assessed value of public utility properties in West Virginia is at a record $8.9 billion, pending appeals.
State Property Tax Division director Jeff Amburgy says the assessed property values have increased about $515 million, or 6 percent. That’s up from a 3.6 percent increase in the previous fiscal year.
Amburgy says about $238 million of the increase is due to completion of the 500-kilovolt Trans-Allegheny Interstate Line.
The increase in assessed values is expected to boost property tax collections by $11.6 million.
The Charleston Gazette says Amburgy presented the figures Monday to the state Board of Public Works.
The board must approve annual property valuations for all utilities operating in the state, including water, natural gas, electric and telephone companies, and railroads.