The resolution proposes an amendment to the West Virginia Constitution to increase the homestead exemption amount from the first $20,000 to the first $50,000 of assessed valuation for property used exclusively for residential purposes. This exemption would apply to real property or mobile homes occupied by the owner or one of the owners who is either 65 years of age or older or permanently and totally disabled. The amendment aims to provide tax relief to eligible homeowners and is set to be submitted to voters for ratification or rejection during the general election in 2025.

Additionally, the resolution outlines the legislative authority to establish general laws regarding property tax assessments, statewide reappraisals, and the implementation of the homestead exemption. It emphasizes that the proposed changes will ensure equitable taxation and provide necessary relief to qualifying citizens. The amendment is designated as "Amendment No. 1" and is referred to as the "Homestead Exemption Increase Amendment," with the purpose clearly summarized in the resolution.