H. B. 2235

         (By Delegate Duke)

         [Introduced January 11, 2012

; referred to the

         Committee on the Judiciary then Finance.]

A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-6B-8, relating to county commissions providing an election 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 residents of West Virginia for five or more years to defer all property tax increases over the amount of the property tax paid on June 1, 2010, for the remainder of the life of the homeowner. Upon the death of the homeowner or his or her spouse, whichever is the later, the deferred taxes shall be recaptured, without interest, upon the sale or transfer of the property.

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

    This section is new; therefore, it has been completely underscored.