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, including provisions for periodic statewide reappraisals and the phasing in of any increases in property value. It emphasizes the need for equitable application of property taxes and ensures that the new exemption amounts are applicable to residential properties occupied by eligible citizens, including those aged 65 and older or permanently disabled. The resolution is designated as "Amendment 1" and is referred to as the "Homestead Exemption Increase Amendment."