What is a “split roll” property tax system?

A “split roll” property tax system is one in which different categories of property are treated differently when taxing them. In West Virginia, the most common split roll system is the one that applies to real and personal property. Real property, such as buildings and land, is taxed at a higher rate than personal property, such as agricultural equipment, furniture, and other items. The main idea of a split roll system is that different types of property are taxed at different rates, depending on their intended use and value. In West Virginia, this system allows the state to bring in more revenue from property taxes while still allowing for a reasonable tax rate. This system can be beneficial for certain industries, such as agriculture, as their personal property is exempt from higher tax rates. On the other hand, this system can be more expensive for businesses that own real property, as the higher tax rate will decrease their profits by forcing them to pay more taxes. Overall, the “split roll” property tax system in West Virginia is designed to bring in more revenue for the state while still setting reasonable tax rates for various types of property. This system can be beneficial for some people, while more costly for others.

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What is a “split roll” property tax system?

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