West Virgiia natural gas property tax valuation issues continue for second year - WV News
West Virgiia natural gas property tax valuation issues continue for second year | WV News | wvnews.com
CHARLESTON – For the second year in a row, issues with property tax valuations for natural gas and oil-producing personal property continue to plague taxpayers.
One county assessor and several property owners vented their frustrations Wednesday at a public hearing before the West Virginia House of Delegates regarding a separate bill to eliminate a sunset provision that would require lawmakers to go back to the drawing board for a new valuation formula.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”