What is a homestead tax exemption?

A homestead tax exemption is a form of property tax relief available in West Virginia. It is a special allowance that exempts qualified homeowners from being taxed on a portion of the assessed value of their primary residence. In other words, the state of West Virginia exempts a certain amount of the home’s value from property taxes. To qualify for this exemption, the homeowner must own the home and use it as their primary residence. Some other qualifications may apply, depending on the locality that the homeowner resides in. In most cases, the homestead exemption applies for the entire amount of the home’s assessed value. In other cases, the homeowner may be eligible for a partial exemption, which is a percentage of the home’s value that is exempt from property taxes. The amount of the homestead tax exemption varies by county. For example, in Monongalia County, the homestead exemption is $20,000 while in Berkeley County it is $30,000. In addition, some localities may require that the homeowner submit an application to receive the exemption. Overall, the homestead exemption is an important form of property tax relief for eligible West Virginia homeowners. It allows qualified homeowners to reduce their tax burden and helps to ensure that they are not unduly burdened by property taxes on their primary residence.

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What is a homestead tax exemption?

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