State
West Virginia
Year
2021
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
The refundable income tax credit eligibility is restricted to those who participate in the Homestead Exemption Program through the County Assessor’s office. An individual over the age of 65 is eligible if 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. Income in 2020 for filing in 2021 is $19,320 for a single person household plus an addition $6,810 for each additional person in the household. Taxpayer required to pay the federal alternative minimum tax is not eligible.
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
Record ID
WV102_RR21
Footnotes
Sources
[https://tax.wv.gov/Documents/TSD/tsd411.pdf Accessed 04/24/2022]
View Archived Source
West Virginia State Tax Department Schedule HEPTC-1 for Homestead Excess Property Tax Credit (2020) for benefits received in 2021
[https://tax.wv.gov/Documents/TaxForms/2020/it140.schedule-HEPTC1.pdf Accessed 04/24/2022]
View Archived Source