WV HB2670

Increases 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 permanently and totally disabled, and have been West Virginia residents for two consecutive calendar years

Only one exemption is allowed per homestead, regardless of the number of qualified owners residing in the home

The exemption attaches to the homestead occupied on the July 1st assessment date and applies to taxes for the following tax year