HOUSE CONCURRENT RESOLUTION NO. 93
(By Delegates Manchin, Longstreth and Caputo)
Requesting the Joint Committee on Government and Finance study what
the appropriate amount for the homestead exemption in the
state should be; the appropriate means for placing a value on
the exemption, as well as the feasibility of placing a cap
upon the percentage by which any property assessment may
increase in a single year.
Whereas, There is a strong interest among the citizens of West
Virginia regarding what the appropriate amount should be for the
homestead exemption as provided in the West Virginia Constitution;
and
Whereas, This interest is demonstrated by the numerous
resolutions introduced every year in the Legislature to change the
amount of the homestead exemption in various ways including means
testing, increasing the exemption by certain amounts, freezing the
valuation and others; and
Whereas, Many senior citizens live on fixed incomes and are
fearful of their ability to continue to pay their residential
property taxes in a time of rising property values; and
Whereas, Certain areas of the state have experienced rapid escalation in the market values of property and/or reassessments of
property have not occurred as frequently as by statute the result
of which has been a steep and rapid escalation in property taxes
and great financial hardship to seniors living on fixed incomes;
therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to study the fiscal and public policy implications of the
various suggestions regarding an amendment to the homestead
exemption; and, be it
Further Resolved, That the Joint Committee on Government and
Finance specifically study what an appropriate amount should be, as
well as, an appropriate method of valuation; and, be it
Further Resolved, That the Joint Committee on Government and
Finance undertake a study to determine the feasibility and
desirability of placing a cap upon the percentage by which any
property assessment may increase in a single year in order to
prevent hardship to property owners; and, be it
Further Resolved, That the Joint Committee on Government and
Finance report to the regular session of the Legislature, 2008, on
its findings, conclusions and recommendations, together with drafts
of any legislation necessary to effectuate its recommendations;
and, be it
Further Resolved, That the expenses necessary to conduct this study, to prepare a report and to draft necessary legislation be
paid from legislative appropriations to the Joint Committee on
Government and Finance.
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