The resolution proposes an amendment to the West Virginia Constitution to increase the Homestead Exemption for property taxes from the current $20,000 to a minimum of $25,000. This amendment, designated as "Amendment 1" and referred to as the "Homestead Exemption Increase Amendment," aims to provide for periodic increases in the exemption amount until it reaches $40,000. The proposed changes will be submitted to voters during the general election in 2026, allowing citizens to decide on the ratification or rejection of this amendment.

In addition to the increase in the exemption amount, the resolution outlines provisions for the assessment and taxation of property, including the establishment of a uniform assessment rate and the requirement for periodic statewide reappraisals. It also includes stipulations for property tax relief for tenants and the potential for local school districts to levy taxes for educational purposes. The amendment seeks to ensure equitable taxation and provide financial relief to eligible homeowners, particularly those who are elderly or disabled.