Relating to taxation

HB 4455 gradually increases West Virginia's homestead property tax exemption for eligible homeowners, starting at $20,000 in 2028 and rising to $40,000 by 2031. It directly affects homeowners aged 65 or older, or those certified as permanently and totally disabled, who have resided in West Virginia for two consecutive years. The bill requires a constitutional amendment to take effect and removes a cap on property tax books while repealing a prior limitation on levy rates. This change aims to reduce property tax burdens for qualifying senior and disabled residents over time.