PARKERSBURG - In accordance with new state ethics regulations requiring financial disclosure not only by public officials but also by their spouse, Wood County Commissioner Steve Gainer's wife has declared residency in Florida to qualify for the homestead exemption on property they own in that state.
The financial disclosure form was filed earlier this month with the West Virginia Ethics Commission.
The Gainers are paying their full tax bill on the residential property in Wood County. A married couple can only claim one homestead exemption even though both may be eligible to receive the tax discount; there is no homestead on the Wood County property.
The homestead exempts a portion of value on the primary residence to lower the tax bill. The exemption can only be filed on one residence, so to file in Florida, one has to prove residency there, which usually means changing voter registration, driver's license and other documents.
"As part of our estate planning, back in 2006, my wife became a resident of Florida on the advice of our accountant, then she could claim the homestead there," Gainer said.
Florida property tax homestead exemption reduces the value of a home for assessment of property taxes on the residence by $50,000, so a home that was actually worth $100,000 would be taxed as though it was worth $50,000. The second $25,000 of homestead coverage does not apply to the school portion of property taxes; it only applies to the third $25,000 of a property's total value.
In general, Florida property values are higher and the homestead is higher. West Virginia exempts only the first $20,000 of assessed value on property on which a homestead is granted. Residents who are 65 or older (or totally disabled in West Virginia) qualify for the exemption.
Wood County Assessor Rich Shaffer said his office is notified routinely of those claiming homestead in Florida who were residents here.
"It is more of an advantage to most individuals that own property in Florida and here to take the exemption in Florida as opposed to here," Shaffer said.
Gainer is paying real estate and personal property tax on the residential and commercial properties he owns in Wood County, as well as on several vehicles.
Shaffer said his office recently received an anonymous letter signed "angry taxpayer" stating there was a vehicle parked near one of Gainer's businesses with an "illegal" Florida license plate on it.
Shaffer said he looked into the matter and the vehicle is licensed in Mrs. Gainer's name and since she is a resident of Florida, the vehicle is properly licensed.
"That vehicle is registered in my wife's name only and so is the property with the homestead exemption in Florida," Gainer said.
"I feel like I'm being targeted," Gainer said, adding he felt some of his former political opponents are raising questions and concerns about his Florida property and related issues.
"We were just trying to plan our estate and make sure my children end up with something. I don't have anything else to say on the matter," Gainer said.
Gainer said earlier he has children and grandchildren who reside in Florida and they purchased property there to be closer to their family.
The financial statements are public information, and the financial disclosure statements for members of the Legislature, members of the Board of Public Works, members of the Supreme Court of Appeals and candidates for these positions are published on the Internet.
