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WV Legislature Votes to Keep Flawed O&G Valuation Formula in Perpetuity

Members of the Wet Virginia State Senate voted on Friday to permanently retain a flawed oil and gas well valuation formula. The Senate vote comes after the House had previously voted to do the same thing (see WV’s Botched NatGas Property Tax Gets Messier with House Vote). The formula used has been the cause of unending

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WV's Botched NatGas Property Tax Gets Messier with House Vote

Last summer, MDN told you that a new system to assess valuations of shale wells in West Virginia had turned into a royal mess (see WV NatGas Property Tax Rule Still a Mess, 303 Cases Appealed). In January, that mess got a whole lot messier — what we call a hot mess --- when a

West-virginia , United-states , Gas-property-tax-rule-still , Tax-mistake , Hot-mess , Counties-out-millions , Industrywide-issues , Regulation , Statewide-wv , Taxation ,

NatGas WV Property Tax Mistake a Hot Mess – Counties Out Millions

Last summer, MDN told you that the new system to assess valuations of shale wells in West Virginia had turned into a mess (see WV NatGas Property Tax Rule Still a Mess, 303 Cases Appealed). That mess has just gotten messier --- what we call a hot mess. A "clerical error" by a third-party vendor

West-virginia , United-states , Gas-property-tax-rule-still , Industrywide-issues , Statewide-wv , Taxation ,

WV NatGas Property Tax Rule Still a Mess, 303 Cases Appealed

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 required the State Tax Commissioner to develop a revised methodology to value oil and natural gas properties for the purpose of assessing property taxes. The State Tax Department submitted an

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July 31, 2023 | Marcellus Drilling News

July 31, 2023 | Marcellus Drilling News
marcellusdrilling.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marcellusdrilling.com Daily Mail and Mail on Sunday newspapers.

West-virginia , United-states , Ohio-county , Jim-justice , Tax-department , Virginia-office-of-tax-appeals , Virginia-state-legislature , West-virginia-state-legislature , House-bill , State-tax-commissioner , State-tax-department , Gas-property-tax-rule-close