HB 4922
To exempt all WV residents 65 and older from personal property taxes and real estate property taxes effective Jan 1, 2027
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill proposes to exempt all West Virginia residents who are 65 years of age or older from both personal property and real estate property taxes, effective January 1, 2027. It also clarifies the requirements for the Homestead Property Tax Exemption. The bill includes provisions related to a $20,000 homestead exemption for senior citizens and addresses fees associated with nonprofit youth organizations utilizing tax-exempt properties.
Key provisions
- Exempts West Virginia residents 65 and older from personal and real estate property taxes.
- Clarifies eligibility requirements for the Homestead Property Tax Exemption.
- Establishes a $20,000 homestead exemption for residents 65 and older.
- Creates a fee structure for nonprofit youth organizations utilizing tax-exempt properties.
- Addresses the application of existing lease purchase agreements regarding property exemptions.
- Requires periodic studies on the economic impact of the tax exemption.
- Specifies reporting requirements for counties regarding tax exemption usage.
- Includes provisions for handling property transfers and maintaining exemptions.
Who is affected
- West Virginia Residents (65 and older)
- Property Owners
- Local Governments (Counties, Cities, etc.)
- Nonprofit Organizations (particularly youth development organizations)
- Taxpayers
Notable changes
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yours