HB4455

West Virginia HB4455 proposes a phased increase in the homestead exemption, contingent on a constitutional amendment.

West Virginia HB4455 amends the Code of West Virginia to increase the homestead exemption in phases, contingent on a constitutional amendment. Beginning January 1, 2028, the exemption will increase to $20,000, then to $30,000 in 2029, $35,000 in 2030, and finally $40,000 in 2031. The bill also removes the cap on property tax books and repeals limitations on levy rates when appraisal results in a tax increase. The changes will only take effect upon ratification of the proposed constitutional amendment.