Introduced Version « House Bill 2824 History

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Key: Green = existing Code. Red = new code to be enacted
H. B. 2824

(By Delegate Duke, Wysong and Blair)

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[Introduced January 9, 2008; referred to the Committee

the Judiciary then Finance.]

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A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-6B-8, relating to providing an election for county commissions to allow resident homeowners, sixty-five years old or older, to defer the payment of property tax increases to their residential property during their lifetimes.

Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §11-6B-8, to read as follows:
ARTICLE 6B. HOMESTEAD PROPERTY TAX EXEMPTION AND TAX DEFERMENT ELECTION.

§11-6B-8. Deferment Election.
A county commission may provide an election to homeowners residing in the county who are sixty-five years old or older and who have been a resident of West Virginia for five or more years to defer all property tax increases over the amount of taxes paid by him or her for the remainder of his or her life. Upon the death of the homeowner or his or her spouse, whichever is later, the deferred taxes shall be recaptured, without interest, upon the sale or transfer of the house.



NOTE: The purpose of this bill is to provide an election for county commissions to allow resident homeowners, sixty-five years old or older, to defer the payment of property tax increases to their residential property during their lifetime.

This section is new; therefore, strike-throughs and underscoring have been omitted.
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