Senate committee advances constitutional and statutory changes to raise West Virginia homestead exemption to $40,000 The Senate Finance Committee adopted a committee substitute to raise the constitutional homestead exemption to $40,000 and reported companion legislation (SB 144) that would raise the statutory exemption and repeal the excess levy rollback; counsel presented a fiscal note estimating roughly $44 million in annual revenue loss.

West Virginia's Senate Finance Committee just advanced a plan to double the homestead exemption to $40,000, promising real tax relief for seniors and a significant shift in property tax policy!

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