This bill amends the Code of West Virginia to enhance property tax exemptions for senior citizens aged 65 and older by introducing a new exemption under section 11-3-9(a). This exemption allows for any personal or real property owned by residents aged 65 years or older to be exempt from taxation. The bill also renumbers existing exemptions, deleting the previous item (30) and inserting the new exemption as (30), with subsequent items renumbered accordingly. The intent is to provide financial relief to senior citizens, thereby supporting their economic well-being.

Additionally, the bill modifies the existing homestead exemption law by removing the age requirement for eligibility, allowing any owner certified as permanently and totally disabled to qualify, provided they have been a resident of West Virginia for the two consecutive calendar years preceding the tax year. It clarifies that individuals with similar exemptions from other states are ineligible and outlines proof of residency requirements. The homestead exemption, which offers a $20,000 exemption from ad valorem property taxes, will apply to the homestead occupied by the qualified owner on the July first assessment date for the following tax year. Provisions are included for individuals reestablishing residency in West Virginia and stipulate that the exemption will be removed if the homestead is transferred to a new owner who does not qualify.

Statutes affected:
Introduced Version: 11-3-9, 11-6B-3