Change the Homestead Exemption

HB 3124 would increase West Virginia's homestead property tax exemption from $20,000 to $40,000 of a home's assessed value for qualifying homeowners. It directly affects residents aged 65 or older, or those certified as permanently and totally disabled, who own and occupy their homes as primary residences. The bill changes the exemption amount in Section 11-6B-3 of the state code, applying to the first $40,000 of assessed value (instead of $20,000) for eligible homeowners meeting residency requirements. The change would reduce property tax bills for qualifying homeowners but does not alter the existing eligibility criteria or residency rules. The bill was introduced on March 4, 2025, and referred to the House Finance Committee.