This bill amends the Code of West Virginia to provide a property tax exemption for eligible individuals, specifically targeting those who are 65 years or older, certified as permanently and totally disabled, or widowed with a gross income of less than $20,000 per year. The legislation introduces a new provision that exempts these individuals from increasing assessed value property taxes on their homesteads, ensuring that the assessed value and tax rate remain stable once they attain eligible status. The bill also maintains the existing requirement that the property must be used and occupied exclusively for residential purposes.

Additionally, the bill clarifies the residency requirements for the homestead exemption, allowing individuals who have resided in West Virginia for more than two years to qualify. It specifies that the exemption will attach to the homestead on the July first assessment date and will apply to taxes for the following year. The bill includes a provision that if a court determines the residency requirement violates federal law, the exemption will still be preserved, ensuring the fiscal integrity of local government levying bodies. Overall, the bill aims to provide financial relief to vulnerable populations by limiting property tax increases.

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