Homestead exemption

This bill proposes a constitutional amendment to increase the homestead property tax exemption in West Virginia from $20,000 to $50,000. It directly affects homeowners and mobile home owners who are at least 65 years old or permanently disabled, as well as younger homeowners who would receive a phased-in exemption starting at a lower value. The amendment would allow the state legislature to set specific rules for how the exemption applies, including a five-year phase-in period for properties appraised before the law takes effect. Additionally, the bill grants the legislature authority to provide property tax relief to tenants of residential or farm property. The measure requires approval by voters at the 2026 general election to become part of the state constitution.