In West Virginia, real property is assessed for tax purposes at what percentage of its appraised fair market value?
Correct Answer
B) 60% of appraised fair market value
Under West Virginia law, real property is assessed at 60% of its appraised fair market value. This two-step process — first establishing appraised FMV, then multiplying by 60% to arrive at assessed value — is a foundational WV-specific rule that directly affects property tax calculations. The assessed value is then multiplied by the applicable levy rate to determine the tax bill.
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