Bill > SB7

This bill proposes to increase the homestead property tax exemption in West Virginia from $20,000 to $40,000, meaning homeowners can now deduct an additional $20,000 from their property's assessed value before property taxes are calculated. This exemption, known as a "homestead exemption," is available to owners who are 65 or older or permanently and totally disabled, provided they have been West Virginia residents for two consecutive years and do not receive a similar exemption in another state, though exceptions exist for military service members returning to the state. The bill also clarifies that this increased exemption will be reflected on property tax books and will apply to taxes for the year following the July first assessment date, with the exemption being removed from a property if the new owner does not qualify.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=7&year=2026&sessiontype=RS&btype=bill