The resolution proposes an amendment to the West Virginia Constitution, specifically adding a new section (10-1d) that would allow the Legislature to create laws exempting owner-occupied real property from property taxes once the mortgage on the property is paid off. This amendment aims to provide financial relief to homeowners by eliminating ad valorem taxation on their primary residences, provided that the property is not encumbered by a mortgage. The proposed amendment also stipulates that no individual or couple can claim more than one exemption and that the properties will still be subject to appraisal and reappraisal as per existing laws.

The resolution has been introduced and referred to the Finance and Judiciary committees, with plans to present the amendment to voters during the 2025 general election. The summarized purpose of the amendment emphasizes the intention to allow the Legislature to enact laws that would exempt certain residential properties from taxation, thereby supporting homeowners who have fully paid off their mortgages.