WV SB618

Allows corporations not primarily engaged in farming to receive reduced farm property tax valuations if their farm property produces at least $20,000 annually in agricultural products for sale, consumption, or use

Farm property must be appraised based on fair and reasonable value for farming purposes rather than potential value for other uses

All parcels of farm property owned by a corporation, whether contiguous or not, can be combined to meet the $20,000 agricultural production threshold

Maintains existing restrictions that corporations primarily engaged in forestry or timber growing do not qualify as engaged in farming

Continues requirement that for farming corporations, any controlling parent corporation must also be primarily engaged in farming to qualify for reduced valuations