WV HB4455

Increases the homestead property tax exemption for residents aged 65+ or permanently disabled from $20,000 to $40,000 in assessed value through a phased approach: $25,000 starting January 1, 2028; $30,000 in 2029; $35,000 in 2030; and $40,000 in 2031

Changes to the homestead exemption will only take effect if voters ratify a proposed constitutional amendment permitting the increased exemption

Repeals §11-8-6e, which currently limits levy rates when property appraisals result in tax increases

Maintains existing eligibility requirements including two consecutive years of West Virginia residency and prohibition on receiving similar exemptions in other states