Senior Citizens' Tax Credit

State

West Virginia

Year

2015

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 $20,000 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

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. For a 2-person household, the income limit for tax year 2014 filed in 2015 is $23,595.

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

Local government covers all of its tax loss

Description of State Funding for Tax Loss

The state statute is silent on this.

Record ID

WV102_RR15

Footnotes

Taxpayers must calculate the credit authorized in this section prior to calculating the refundable credit for taxes in excess of 4% of household income. Applicants must choose between three programs for a given tax year: the Senior Citizens' Tax Credit, the Refundable Property Tax Credit for Property Taxes Exceeding 4% of Income, or the Senior Citizen Property Tax Relief Credit.

Sources

W. Va. Code § 11-21-21 (in effect for 2015)
Senior Citizens Tax Credit Form TSD-411 (2014), West Virginia State Tax Department [http://www.state.wv.us/taxrev/publications/tsd/tsd411.pdf Accessed on 12/29/2015] View Archived Source

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