FISCAL NOTE
Date Requested: January 29, 2026
Time Requested: 05:49 PM |
| Agency: |
Tax & Revenue Department, WV State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3116 |
Introduced |
HB4906 |
|
|---|
| CBD Subject: |
Taxation |
|---|
|
FUND(S):
General Revenue Fund, local governments
Sources of Revenue:
General Fund local property tax revenue
Legislation creates:
Decreases Existing Revenue, Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to provide a real and personal property tax exemption for residents 70 years or older and clarify who qualifies for the Homestead Act.
The bill, as written, provides a Property Tax exemption for any personal or real property owned by residents who are 70 years of age or older. The revenue loss to the State and local governments from this proposal cannot be accurately determined but would be of some significance. We have no data on the number of taxpayers who are 70 years of age or older or the values of their property.
Additional administrative costs to the Tax Department and local governments cannot be determined.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2026
Increase/Decrease
(use"-") |
2027
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
The bill, as written, provides a Property Tax exemption for any personal or real property owned by residents who are 70 years of age or older. The revenue loss to the State and local governments from this proposal cannot be accurately determined but would be of some significance. We have no data on the number of taxpayers who are 70 years of age or older or the values of their property.
Additional administrative costs to the Tax Department and local governments cannot be determined.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: RADfiscal@wv.gov