Bill > SB56

This bill proposes to increase the homestead property tax exemption for qualifying homeowners in West Virginia from $20,000 to $40,000. The exemption applies to homeowners who are 65 years or older, or are certified as permanently and totally disabled, and have been residents of West Virginia for at least two consecutive calendar years preceding the tax year. To qualify, homeowners must use and occupy the property exclusively for residential purposes and cannot receive a similar exemption in another state. The exemption attaches to the homestead on the July first assessment date and applies to taxes for the following tax year. If a qualified homestead is transferred, the exemption will be removed unless the new owner also qualifies. The bill also includes provisions for military service members who maintain West Virginia residency and special circumstances for those who temporarily establish residency in another state. When the exemption amount is greater than the total assessed value of an eligible homestead, no property taxes will be levied, and the sheriff will issue a statement to the owner confirming no taxes are due.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=56&year=2025&sessiontype=RS&btype=bill