WV HB2531

Doubles the Homestead Property Tax Exemption from $20,000 to $40,000 of assessed value for qualifying homeowners

Exemption applies to homeowners who are 65 years of age or older, or who are certified as permanently and totally disabled

Qualifying homeowners must have been West Virginia residents for two consecutive calendar years preceding the tax year

Only one exemption is allowed per homestead, regardless of how many qualified owners reside in the property

Owners receiving a similar homestead exemption in another state are ineligible for this exemption