Tax Department rule relating to valuation of timberland and managed timberland

SB 299 authorizes the West Virginia Tax Department to implement a legislative rule establishing valuation standards for timberland and managed timberland. This rule, previously filed in the State Register on July 25, 2025, will directly affect property tax assessments for landowners who manage timber resources. The bill does not change the rule's content but formally permits its adoption, ensuring consistent valuation methods for tax purposes.