The resolution proposes an amendment to the West Virginia Constitution, specifically adding a new section, 10-1d, which would allow the Legislature to create laws that exempt owner-occupied real property from property taxes once the mortgage on that property is fully paid off. This amendment aims to provide financial relief to homeowners by eliminating ad valorem taxation on their primary residences, provided that these properties are 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 outlines that the question of ratification or rejection of this amendment will be presented to voters during the general election in 2025. It is designated as "Amendment No. 1" and is formally titled the "Exemption from Ad Valorem Taxation on Owner-Occupied Real Property on Which There are No Mortgages Amendment." The overarching purpose of this amendment is to enable the Legislature to enact laws that provide tax exemptions for certain residential properties occupied by their owners, thereby promoting homeownership and financial stability for West Virginia residents.