Industry Specific Property Tax

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rmoores

• June 12, 2015 18:00

I was wondering if someone could tell me how the property tax if calculated for industry specific taxes? for example in West Virginia they have a complex formula for assessing the property value of coal mines based on mineable and unmineable acreage that is actively mined or counted a reserve. Is anything like that factored into the property tax valuations for specific states and counties?

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  IMPLAN Support

  • June 15, 2015 12:19

  Hi Ray Property taxes (other than personal property taxes, e.g. motor vehicle property tax) are a type of Taxes on Production and Imports (TOPI). IMPLAN has area- and industry-specific estimates of TOPI. The distribution of types of TOPI, e.g. sales tax, property tax, etc., is specific only to the area, though. So, the estimate of TOPI for your industry and area (coal mining in West Virginia, for example), will be industry- and area-specific (based on BEA data), but the property tax in your tax impact report will be property tax’s area-wide share of TOPI. Thanks!

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