WV HB4625

Raises the minimum property value threshold for excise tax exemption from $100 to $1,000, with value calculated as the Assessor's assessed value divided by 60 percent

Adds a new exemption for deeds transferring oil, gas, or other minerals without consideration

Adds a new exemption for deeds without consideration between natural persons and limited liability companies wholly owned by those same persons

Expands family transfer exemptions to include transfers between siblings without consideration, in addition to existing exemptions for spouse, parent-child, and grandparent-grandchild transfers

Reorganizes the definition section by converting exemptions from a paragraph format to a numbered list of 16 specific exemption categories