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HB 4906

To exempt individuals over 70 from real estate taxes beginning tax year 2027

2026 Regular Session Introduced by Bill Roop

HB 4906 exempts West Virginia residents over 70 from real estate property taxes starting 2027, potentially reducing state and local government tax revenue without addressing funding replacement.

To House Finance
#taxation
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Bill Summary · HB 4906

Legislative bill overview

HB 4906 would exempt West Virginia residents aged 70 and older from paying real estate property taxes, effective starting in tax year 2027. The bill was recently introduced and referred to the House Finance Committee for consideration.

Why is this important

Real estate taxes represent a significant annual expense for homeowners, particularly affecting fixed-income seniors on pensions and Social Security. This proposal directly impacts state revenue collection and could substantially affect local government budgets that depend on property tax receipts for schools, emergency services, and infrastructure maintenance.

Potential points of contention

  • Fiscal impact and funding gap: The bill doesn't specify how municipalities and schools would replace lost property tax revenue, potentially creating budget shortfalls for essential services
  • Fairness and targeting: Questions about whether age-based exemptions are the most equitable approach compared to income-based relief that could help lower-income residents of any age
  • Implementation complexity: Determining eligibility, processing exemptions, and potential appeals could create administrative burdens for assessors' offices without additional funding
  • Property tax base erosion: As West Virginia's population ages, the exemption could progressively reduce the tax base, requiring higher rates on remaining taxpayers to maintain service levels

Compiled from official sources — confirm details with the bill’s official record.

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