The resolution proposes an amendment to the West Virginia Constitution that would allow for an increase in the homestead exemption for individuals with an annual income not exceeding $20,000. Specifically, it seeks to amend Section 1b of Article X to enable the homestead exemption to increase by $20,000 increments every five years, ultimately reaching a maximum exemption of $100,000 for individuals who are 85 years of age or older. This amendment aims to provide financial relief to low-income residents, particularly seniors and those with disabilities, by reducing their property tax burden.

The resolution outlines the process for submitting this proposed amendment to the voters of West Virginia during the next general election in 2025. It includes provisions for the assessment and taxation of property, the determination of property values, and the implementation of the homestead exemption. The amendment is designated as "Amendment No. 1" and is summarized as the "Authorization to increase homestead exemption amendment." The overall goal is to enhance the financial security of eligible residents by allowing for periodic increases in their property tax exemptions.