CHARLESTON, W.Va. — The state Board of Public Works, which is made up of Gov. Patrick Morrisey and other statewide elected officials along with state School Superintendent Michele Blatt, is getting a look at tentative 2027 property tax assessment numbers for utilities.
The board met Thursday morning at the state capitol.
State Tax Commissioner Matt Irby said the tentative assessed value of public service business property for Tax Year 2027 is $17.4 billion, an increase of $1.2 billion when compared to 2026 assessed values. That’s a proposed $7.45 percent increase.
The tentative assessments show increasing investment by electric utilities, Irby told the board Thursday.
“Last year when you saw the big increases it was almost entirely related to (natural gas) pipelines, new pipelines, this year what we’re seeing is significant new investment on the electrical side,” Irby said.
MORE see 2027 tentative assessments here
For example, Potomac Edison’s tax assessment from 2026 to 2027 shows a proposed 20 percent increase, Wheeling Power 13 percent, AEP WV a 12 percent increase, Monongahela Power 11 percent and Appalachian Power 5.9 percent.
Irby told the board the increases in assessments is not a surprise given the direction of the economy when it comes to producing more power.
“That’s where you see the significant increase in pending valuations in electric production,” Irby said.
The board will hold a meeting in the near future that will permit utilities to appeal the proposed assessments. The Board of Public Works will then approve the final numbers.