This bill proposes to amend the Code of West Virginia by increasing the Homestead Property Tax Exemption for eligible homeowners from $20,000 to $40,000. Specifically, it modifies sections 11-6B-3 and 11-6B-7, which outline the qualifications and application process for the exemption. The bill maintains the requirement that the exemption applies to homeowners who are 65 years or older or certified as permanently and totally disabled, and it includes provisions for residency and proof of eligibility.

In addition to the increase in the exemption amount, the bill clarifies that only one exemption is allowed per homestead and specifies that the exemption will attach to the homestead on the July first assessment date for the following tax year. It also states that if a qualified owner's homestead is transferred, the exemption will be removed unless the new owner qualifies. The changes aim to enhance the financial relief provided to eligible homeowners in West Virginia.

Statutes affected:
Introduced Version: 11-6B-3, 11-6B-7