The resolution proposes an amendment to the West Virginia Constitution to increase the Homestead Exemption from the current $20,000 to a minimum of $25,000. This amendment aims to provide additional periodic increases until the exemption 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.

The amendment also outlines the legislative authority to establish general laws regarding property tax assessments and exemptions, ensuring that the provisions are uniformly applied across all classes of property. It emphasizes the need for periodic statewide reappraisals and the equitable application of property taxes, while also allowing for tax relief for tenants of residential or farm properties. The resolution is designated as "Amendment 1" and is referred to as the "Homestead Exemption Increase Amendment."