Senior Citizens' Tax Credit

State

West Virginia

Year

2006

Variations in Receipt of Benefit

No Variation in Receipt of Benefits

Benefit Type

Credit

Benefit

Senior citizens eligible for the Homestead Exemption receive a refundable credit equal to the taxes on $10,000 of assessed value in excess of the Homestead Exemption.

How is Benefit Disbursed

Credit to the income tax bill

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property is eligible for this program.

Eligibility Criteria

Age

Homeowner

Income Ceiling

Principal Residence

Description of Eligibility Criteria

An individual is eligible if he or she is over the age of 65 and has an adjusted gross income 150% or less of the federal poverty guideline based upon the number of individuals in the family unit residing in the homestead, as determined annually by the United States Secretary of Health and Human Services.

Local Option in Adoption of Program

Local government is unable to exercise an option

Local Option Regarding Program Features

No local option regarding program features

State Funding for Local Tax Loss

State reimburses all of the local government tax loss

Description of State Funding for Tax Loss

The state statute is silent on this.

Record ID

WV102_RR06

Footnotes

For tax years beginning after 1 January 2007, the credit is on the first $20,000 of taxable assessed value.

Sources

W. Va. Code § 11-21-21 (in effect for 2006)

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