This bill amends the Code of West Virginia to introduce a new property tax exemption for residents aged 70 years or older, stating that "Any personal or real property belonging to residents 70 years of age or older" will be exempt from taxation. It also renumbers existing exemption categories, deleting the previous category (30) and designating the new exemption as (30). The legislation aims to provide financial relief to senior citizens by ensuring their property is not subject to taxation, while also clarifying the qualifications for the Homestead Property Tax Exemption and maintaining existing provisions for other exempt properties.

Additionally, the bill removes the age requirement for the homestead exemption, allowing any owner certified as permanently and totally disabled to qualify for an exemption on the first $20,000 of assessed value. It retains the residency requirement for applicants, specifying that they must have been residents of West Virginia for the two consecutive calendar years prior to the tax year in question. The bill outlines the application process, including the need for a sworn affidavit to confirm that the owner is not receiving a similar exemption in another state, and ensures that only one exemption is allowed per homestead. It also includes provisions for the transfer or removal of the exemption if the property is sold and protects the exemption's availability in case of conflicts with federal law.

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