Relating to taxation

HB 3451 proposes a phased increase in the homestead property tax exemption for West Virginia residents aged 65 or older, or those certified as permanently and totally disabled. Starting in 2027, the exemption for primary homes would rise from $20,000 to $40,000 over four years, contingent on a state constitutional amendment. To qualify, applicants must have lived in West Virginia for two consecutive years (with limited exceptions for military veterans or returning residents), and cannot claim a similar exemption in another state. The bill also removes limits on property tax rates and levy rates, which would allow for higher property tax collections overall.