West Virginia Code of State Rules › Agency 110 - Tax › Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT › Series 110-03 - Exemption Of property from ad valorem property taxation › Section 110-3-2 - Definitions

Current through Register Vol. XLI, No. 28, July 12, 2024
As used in this rule and unless the context requires a
				  different meaning, the following terms shall have the meanings ascribed herein,
				  and shall apply in the singular or in the plural.
2.1. The term "academy" means a private
				secondary or college preparatory school, a school for special instruction or a
				specified society of scholars or artists.
2.2. The term "aged" means over the age of
				sixty-five (65) years.
2.3. The
				term "bank deposits" as used in these regulations shall mean a deposit of money
				with any person engaged in the business of banking. It includes money on
				deposit in a checking, time, interest or savings account, and certificates of
				deposit (including money market certificates and All Savers Certificates). The
				term "person engaged in the business of banking" means and includes banks,
				building and loan associations, industrial banks, industrial loan companies,
				supervised lenders, credit unions and all other similar institutions, whether
				persons, firms or corporations, which are by law under the jurisdiction and
				supervision of the West Virginia Commissioner of Banking, the Federal Reserve
				Board or the United States Comptroller of the Currency.
2.4. The term "benevolent association or
				society" means a society or association having a philanthropic or charitable
				purpose and intended to confer benefits to the general public or a specific
				section of the public at large rather than to produce profit or gain.
2.5. The term "blind" means a person whose
				central visual acuity does not exceed twenty-two hundred in the better eye with
				correcting lenses, or if his visual acuity is greater than twenty-two hundred
				but is occasioned by a limitation in the fields of vision such that the widest
				diameter of the visual field subtends an angle no greater than twenty
				degrees.
2.6. The term "bond" means
				a certificate or evidence of debt on which the issuing church or religious
				society promises to pay to the bond holders a specified amount of interest for
				a specified length of time, and to repay the loan on the expiration date. In
				every case a bond represents a debt. Commonly, bonds are secured by a mortgage
				or lien on specific property. The term "bonds" includes annuity bonds, bearer
				bonds, callable bonds, chattel mortgage bonds, collateral trust bonds,
				convertible bonds, corporate bonds, coupon bonds, debenture bonds, general
				mortgage bonds, general obligation bonds, guaranteed bonds, improvement bonds,
				income bonds and supportment bonds.
2.7. The term "cash" as used in these
				regulations shall mean and include all United States and foreign
				currency.
2.8. The term "cemetery"
				as used in these regulations, shall mean a place where the dead bodies of human
				being are buried; it is a place or area of ground set apart for the burial of
				the dead, and includes not only lots for depositing the bodies of the dead, but
				also such avenues, walks, and grounds as may be necessary for its use or for
				ornamental purposes. In Re Hillcrest Memorial Gardens, Inc., 146 W. Va. 337,
				119 S.E.2d 753 (1961).
2.9. The
				term "charitable" means of, or for, charity.
2.10. The term "charity" means a gift to be
				applied consistently with the existing laws, for the benefit of an indefinite
				number of persons, either by bringing their hearts under the influence of
				education or religion, by relieving their bodies from disease, suffering or
				constraint, by assisting them to establish themselves for life, or by erecting
				or maintaining public buildings or works, or otherwise lessening the burdens of
				government. It is immaterial whether the purpose is called charitable in the
				gift itself if it is so described as to show that it is charitable. Any gift
				not inconsistent with existing laws which is promotive of science or tends to
				the education, enlightenment, benefit or amelioration of the condition of
				mankind or the diffusion of useful knowledge, or is for the public convenience
				is a charity.
2.11. The term
				"child" means any person under eighteen years of age.
2.12. The term "church," as used in the
				regulations, shall refer to an individual parish, congregation or like subgroup
				of an organized religion, denomination, sect or religious society which is
				exempt from federal income taxes under 26 U.S.C. ''501(c)(3) or
				(c)(4).
2.13. The term "club room"
				means a place used by a voluntary, incorporated or unincorporated club or
				association of person which is officially approved by the college or university
				and which has a membership consisting primarily of students or faculty members
				or both, and which meets for social, literary, educational, or scientific
				purposes, or other purposes of like nature.
2.14. The term "college" means and includes
				any "State college of university" or "community college" as defined in W. Va.
				Code '18-26-2; and any other institution of higher education which has approval
				from the West Virginia Board of Regents to award degrees of higher educational
				status pursuant to W. Va. Code '18-26-13a. The term "higher educational
				institution" means any institution as defined by section 401(g) or (h) of the
				Federal Higher Education Facilities Act of 1963, as amended, and includes the
				private proprietary educational institution operated for profit which offers
				one or more programs leading to a degree. See W. Va. Code
				'18-26-3(g).
2.15. The term "dead
				victuals" means all non-living edible foodstuffs, beverages containing no
				alcohol and other non-living items commonly thought of as food intended
				entirely for human consumption, including, by way of illustration and not
				limitation, cereals and cereal products, meat and meat products, fish and fish
				products, poultry and poultry products, fresh and salt water animal products,
				egg and egg products, vegetables and vegetable products, fruit and fruit
				products, flour and flour products, sugar and sugar products, milk and milk
				products, cocoa and cocoa products, coffee and coffee substitutes, tea, herbs,
				spices, salt and salt substitutes, condiments, candy and confections, soft
				drinks, soft drink mixes and syrups, tenderizers, food coloring, bottled
				drinking water, sugar substitutes, oleo margarine, shortening, gelatins, baking
				and cooking ingredients, mushrooms, spreads, relishes, desserts, flavorings,
				chewing gum, edible seeds, nuts and berries. This term does not include
				medicines, vitamins and dietary supplements whether in liquid, powered,
				granular, tablet, capsule, lozenge, or pill form spirituous, malt or venous
				liquors or beer, or tobacco or tobacco products.
2.16. The term "deaf" means having a hearing
				impairment of such severity as to substantially interfere with the capacity to
				learn in a normal traditional classroom setting,or the capacity to obtain
				gainful employment.
2.17. The term
				"debenture" means a bond or promissory note backed by the general credit of the
				issuer usually not secured by a mortgage or lien on any specific property,
				subject to the following variations:
2.17.1.
				Convertible debenture. A debenture which may be changed or converted into some
				other security usually at the option of the holder.
2.17.2. Convertible subordinate debenture. A
				debenture which is subject or subordinate to prior payment of other
				indebtedness but which may be converted into another form of
				security.
2.17.3. Sinking fund
				debenture. A debenture which is secured by periodic payments into a sinking
				fund, commonly managed by a trustee for purposes of retiring such
				debt.
2.17.4. Subordinate
				debenture. A debenture which is subject to or subordinate to prior payment of
				other indebtedness.