Northern Panhandle man says new law unfairly taxes oil, gas wells on his property wvrecord.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wvrecord.com Daily Mail and Mail on Sunday newspapers.
Gov. Jim Justice has signed into law, on March 27, 2024, legislation to remove a sunset provision on West Virginia gas and oil tax assessment methodology backed by the industry but unpopular with landowners and tax officials in gas-producing counties. The law, House Bill 4850, eliminates a sunset provision that was slated to go into effect July 1, 2025.
A judge dismissed a federal lawsuit over a law the West Virginia Legislature passed in 2022 that changed the share of oil and gas production to which a royalty owner is entitled. The judge dismissed the lawsuit over Senate Bill 694, finding the Northern West Virginia mineral interest owners who challenged it lacked standing to bring the lawsuit.
The West Virginia Senate sent a bill removing a sunset provision on the state s gas and oil tax assessment methodology to the governor on Feb. 23, 2024. House Bill 4850 lifts a July 2025 sunset date, but the current methodology has proven unpopular with tax assessors and landowners in gas-producing counties.
On Feb. 19, 2024, the West Virginia House of Delegates passed House Bill 4850, which would remove a sunset clause on the state s gas and oil property tax assessment methodology, which has proven controversial despite industry support, sparking claims it has overburdened assessors and short-changed landowners.