Difference between revisions of "School bond and tax elections in West Virginia"

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===West Virginia levy cap law===
 
===West Virginia levy cap law===
  
In West Virginia, there are four different levy limits for each class of property defined under West Virginia law.  The first limit is fifty cents for each $100 of assessed Class I property, class I includes all agricultural property including farmland.  There is a one dollar ($1) limit for each $100 of assessed Class II property, class II includes all residential property including single family housing and multiple units like apartment buildings.  There is a one dollar and fifty cents ($1.50) limit for each $100 of assessed Class III property, class III Property includes all real and personal property outside of municipalities (i.e. unincorporated villages, towns). Two dollars ($2) for each $100 of assessed Class IV property, class IV is all real and personal property inside of municipalities as West Virginia issues property taxes on certain types of personal property.<ref>[http://www.legis.state.wv.us/WVCODE/ChapterEntire.cfm?chap=11&art=8&section=5#08 "West Virginia Legislature" West Virginia levy cap law (Referenced Statute West Virginia Code 11-8-5)</ref> <ref>[http://www.legis.state.wv.us/WVCODE/ChapterEntire.cfm?chap=11&art=8&section=6#08 "West Virginia Legislature" West Virginia levy cap law (Referenced Statute West Virginia Code 11-8-6)</ref>
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In West Virginia, there are four different levy limits for each class of property defined under West Virginia law.  The first limit is fifty cents for each $100 of assessed Class I property, class I includes all agricultural property including farmland.  There is a one dollar ($1) limit for each $100 of assessed Class II property, class II includes all residential property including single family housing and multiple units like apartment buildings.  There is a one dollar and fifty cents ($1.50) limit for each $100 of assessed Class III property, class III Property includes all real and personal property outside of municipalities (i.e. unincorporated villages, towns). Two dollars ($2) for each $100 of assessed Class IV property, class IV is all real and personal property inside of municipalities as West Virginia issues property taxes on certain types of personal property.<ref>[http://www.legis.state.wv.us/WVCODE/ChapterEntire.cfm?chap=11&art=8&section=5#08 "West Virginia Legislature" West Virginia levy cap law (Referenced Statute West Virginia Code 11-8-5)</ref><ref>[http://www.legis.state.wv.us/WVCODE/ChapterEntire.cfm?chap=11&art=8&section=6#08 "West Virginia Legislature" West Virginia levy cap law (Referenced Statute West Virginia Code 11-8-6)</ref>
  
 
==Conduct of the bond election, limitations, rules==
 
==Conduct of the bond election, limitations, rules==

Latest revision as of 20:52, 10 March 2014

School bonds
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School bond and tax elections in West Virginia are held under three circumstances:
  • To exceed levy limits depending on the class of property.
  • To issue bonds for capital improvements
  • To issue new taxes on bonding

Laws affecting school finance

West Virginia bond issue law

In West Virginia, school districts can issue bonds for:

  • Acquiring, constructing and erecting, enlarging, extending, reconstructing or improving any building, work, utility or undertaking.
  • Furnishing, equipping and acquiring or procuring the necessary apparatus for any building, work, improvement or department, or for establishing and maintaining a building or structure for educational purposes.
  • For other purposes in which a school district is authorized to levy taxes or expend public money.

School districts in West Virginia are prohibited from issuing bonds for providing funds for the current expenses of a school district.[1]

No school district in West Virginia is authorized from issuing bonds or bond taxes that exceed two and one-half percent (2.5%) of the valuation of taxable property in the district.[2]

A ballot question is required for any school district in West Virginia to issue new bonds or bond taxes.[3] Before a district can order a resolution for an election, an estimate must be conducted by a licensed engineer on the possible costs of the projects.[4] All bonds must be certified and approved by the West Virginia Attorney General[5] Once a school district's voters approve a bond issue, a resolution indicating the issuance of bonds must be approved by three-fifths of the respective board of education.[6]

West Virginia levy cap law

In West Virginia, there are four different levy limits for each class of property defined under West Virginia law. The first limit is fifty cents for each $100 of assessed Class I property, class I includes all agricultural property including farmland. There is a one dollar ($1) limit for each $100 of assessed Class II property, class II includes all residential property including single family housing and multiple units like apartment buildings. There is a one dollar and fifty cents ($1.50) limit for each $100 of assessed Class III property, class III Property includes all real and personal property outside of municipalities (i.e. unincorporated villages, towns). Two dollars ($2) for each $100 of assessed Class IV property, class IV is all real and personal property inside of municipalities as West Virginia issues property taxes on certain types of personal property.[7][8]

Conduct of the bond election, limitations, rules

Authority conducting elections

The respective county election commission is responsible for holding elections.[9]

Election dates

In West Virginia, elections involving school bonds can be held involving any general, primary, or special elections.[10] General elections are held in the first Tuesday of November while primary elections are held in the first Tuesday of May except in years where Presidential Preference primaries are held.[11]

With elections dealing with bond issues, school districts must hold elections within sixty (60) days of receipt of the engineer's report outlining the costs involved with issuing new bonds.

Needed majority

A simple majority is needed in order to pass a ballot measure involving levy caps.[12] A three-fifths (60%) super-majority vote is required in West Virginia to approve new bonds or bond taxes.[13]

Special elections

Special elections can be held during various times of the year in West Virginia. However, for all elections including special elections, school districts are required to pay for all costs involved in the election. All results must be reported to the County Election Commission governing the election.[14]

Wording of measures

There is no wording requirement for ballot questions in West Virginia, the only mandate for ballot questions is that questions involving levies must end in this fashion:


BALLOT ON SCHOOL LEVY
/ / For school levy.
/ / Against school levy

Also, all ballots for school levy elections must be separate from the normal election ballot.[15]

This is the format that is required for any elections issuing new bonds or bond taxes:

"Shall ................... (name of political division) incur debt and issue bonds to the amount of $............, to run not more than ............ years from the date thereof, with interest not exceeding the rate of ........ percent per annum, for the purpose of ............, and levy taxes sufficient to pay the interest on and the principal of such bonds.


/ / Yes.
/ / No.

NOTICE TO VOTERS: To vote in favor of the proposition submitted on this ballot, place an X mark in the square before the word "Yes."

To vote against it, place a similar mark before the word "No."[16]

Required notice of bond election

A minimum 14 days notice must occur before an election may happens once a resolution is approved to hold a levy election.[17][18]

See also

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External links

References

  1. "West Virginia Legislature" West Virginia Bond Issue Law(Referenced Statute 13-1-2)
  2. "West Virginia Legislature" West Virginia Bond Issue Law(Referenced Statute 13-1-3)
  3. "West Virginia Legislature" West Virginia Bond Issue Law(Referenced Statute 13-1-4)
  4. "West Virginia Legislature" West Virginia Bond Issue Law(Referenced Statute 13-1-5)
  5. "West Virginia Legislature" West Virginia Bond Issue Law(Referenced Statute West Virginia Code 13-1-28)
  6. "West Virginia Legislature" West Virginia Bond Issue Law(Referenced Statute 13-1-14 West Virginia Statutes)
  7. [http://www.legis.state.wv.us/WVCODE/ChapterEntire.cfm?chap=11&art=8&section=5#08 "West Virginia Legislature" West Virginia levy cap law (Referenced Statute West Virginia Code 11-8-5)
  8. [http://www.legis.state.wv.us/WVCODE/ChapterEntire.cfm?chap=11&art=8&section=6#08 "West Virginia Legislature" West Virginia levy cap law (Referenced Statute West Virginia Code 11-8-6)
  9. "West Virginia Legislature" West Virginia Election Law(Referenced Statute 3-1-5 West Virginia Statutes)
  10. "West Virginia Legislature" West Virginia Election Law(Referenced Statute 18-9-2 West Virginia Statutes)
  11. "West Virginia Legislature" West Virginia Election Law(Referenced Statute 3-5-1(a) West Virginia Statutes)
  12. "West Virginia Legislature" West Virginia Election Law(Referenced Statute 18-9-1 West Virginia Statutes)
  13. [http://www.legis.state.wv.us/WVCODE/ChapterEntire.cfm?chap=13&art=1&section=4#01 "West Virginia Legislature" West Virginia Bond Issue Law](Referenced Statute 13-4-1 West Virginia Statutes)
  14. "West Virginia Legislature" West Virginia School Bond Law"(Referenced Statute 18-9-1 under special elections)
  15. "West Virginia Legislature" West Virginia School Bond Law(Referenced Statute West Virginia Statutes 18-9-1)
  16. "West Virginia Legislature" West Virginia Bond Issue Law(Referenced Statute West Virginia Statutes 13-1-2)
  17. "West Virginia Legislature" West Virginia Election Law(Referenced Statute 18-9-2 West Virginia Statutes)
  18. "West Virginia Legislature" West Virginia Bond Issue Law(Referenced Statute 13-1-8 West Virginia Statutes)