W. Va. Code R. § 110-3-14 - Mortgages, Bonds, And Other Evidence Of Indebtedness In The Hands Of Bona Fide Owners And Holders Sold By Churches And Religious Societies For The Purpose Of Securing Money To Be Used In The Erection Of Church Buildings Used Exclusively For Divine Worship
14.1.
Mortgages, bonds, and other evidences of indebtedness in the hands of bona fide
owners and holders sold by churches and religious societies for the purpose of
securing money to be used in the erection of church buildings used exclusively
for divine worship, or for the purpose of paying indebtedness thereon, are
exempt.
14.2. Upon implementation
of the First Statewide Reappraisal of property which is required pursuant to W.
Va. Code '11-1A-1
et seq., no intangible personal property shall be subject to ad valorem
property taxes unless such taxation is subsequently provided for by an act of
the Legislature. Therefore, the question as to whether the intangible personal
property addressed under this section is exempt from ad valorem property tax
will become moot at that time.
Notes
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