Increasing Homestead Exemption

HB 2969 increases West Virginia's homestead property tax exemption for eligible homeowners. The bill raises the exemption amount from $20,000 to $30,000 immediately, with further increases to $35,000 by 2028 and $40,000 by 2030. This exemption applies to the first $30,000 (and higher amounts over time) of a home's assessed value for primary residences owned by residents aged 65 or older, or those certified as permanently and totally disabled. To qualify, applicants must meet residency requirements, including being a West Virginia resident for two consecutive years prior to the tax year, with exceptions for military service and returning residents.