Utility, Rail Property Values Increase in W.Va.

  Counties in West Virginia will benefit from an increase in the assessed value of properties owned by utilities and railroads.

West Virginia Property Tax Division director Jeff Amburgey says the assessed value of utility and railroad properties increased by more than $411 million to $9.5 billion in the past year. The increase will provide about $9 million in additional property tax revenue to counties.

The Charleston Gazette reports that Amburgey released the figures Tuesday during a meeting of the state Board of Public Works.

Amburgey told the board that the assessed value of properties owned by electric companies increased despite the closure of four small coal-fired power plants.

Companies can appeal the assessments prior to the board’s Nov. 18 meeting.