Relating to taxation

This bill increases the homestead property tax exemption for eligible West Virginia residents from $20,000 to $25,000 of assessed value. It directly affects homeowners aged 65+ or certified as permanently and totally disabled who own and occupy their primary residence in West Virginia, requiring two consecutive years of state residency (with limited exceptions for military returnees or those relocating within five years). The key mechanism deducts the exemption amount from a home's assessed value on property tax records, eliminating taxes if the exemption exceeds the home's value. The change is contingent on voters approving a constitutional amendment to permit the higher exemption, and the bill repeals a prior limitation on property tax levy rates.