Filing the West Virginia $20,000 Senior (65+) and Permanently Disabled Homestead Exemption — Hollerbright
Updated October 2026
West Virginia’s homestead exemption removes up to $20,000 of assessed value from an eligible owner-occupied residence. It is not a $20,000 reduction in the tax bill, and it is not calculated directly from the home’s market value. Understanding that distinction helps eligible homeowners estimate savings and anticipate escrow changes.
Calculate the exemption against assessed value
Class II owner-occupied residential property is assessed at 60% of appraised value. A home appraised at $200,000 therefore has a $120,000 assessment before exemptions. Applying the full homestead exemption reduces the taxable assessment to $100,000.
At an illustrative combined levy of $1.00 per $100 of assessed value, the exemption saves $200 annually. At $1.20 per $100, it saves $240. Your actual savings depend on the applicable local levies and available taxable assessment.
The constitutional Class II base maximum is 1.0% of assessed value. Voter-approved excess levies can increase the combined rate. Effective taxes expressed as a percentage of market value are different because assessment starts at 60%; statewide rules alone do not establish an individual property’s bill.
Use the West Virginia Tax Division to review the exemption framework and ask your county assessor for the parcel’s actual levy information.
File through the county assessor
The exemption serves qualifying owners age 65 or older and qualifying permanently and totally disabled owners. Ownership, occupancy, residency and applicable timing requirements matter; age or disability alone does not establish eligibility.
- Request the homestead exemption application from the county assessor.
- Confirm the deadline and eligibility date for the tax year being claimed.
- Bring the requested proof of age, ownership and residency.
- For disability eligibility, obtain the documentation the assessor requires.
- Ask how a move, ownership change or change in occupancy affects the exemption.
Do not assume a seller’s exemption transfers with the property. Also confirm whether any continuing certification or notice of changed circumstances is necessary after approval.
Connect the reduced bill to your mortgage
An approved exemption reduces eligible property taxes, not mortgage principal, interest or homeowners insurance. If taxes are escrowed, the payment may not change until the servicer receives updated tax information and completes an escrow analysis.
The Consumer Financial Protection Bureau explains escrow administration. Keep the approval and revised bill available for the servicer.
Update the tax input in the monthly payment calculator. If you are also replacing a mortgage, use the refinance savings calculator to separate tax-exemption savings from savings actually produced by refinancing.
Compare Current Mortgage Rates
Compare current APRs, points, fees, and estimated monthly payments from participating lenders below.
Loan Program Comparison: 2026 Benchmarks
Filing the West Virginia $20,000 Senior (65+) and Permanently Disabled Homestead Exemption — Choose a mortgage by comparing eligibility, upfront cash and total monthly costs, not the advertised rate alone. Conventional, FHA, VA and USDA serve different borrowers. Confirm county limits, taxes, insurance and lender requirements before comparing personalized Loan Estimates for your household.
Historical 2025 one-unit comparison: conforming $832,750; FHA floor $541,287. County and unit-count limits can differ.
| Loan program | Down payment / equity | 2026 one-unit baseline | Costs and page-specific comparison |
|---|---|---|---|
| Conventional | 3%–5% subject to eligibility | $832,750 | PMI generally below 20% down |
| FHA | 3.5% at 580+; 10% at 500–579 | $541,287 floor | 1.75% upfront MIP; 0.55% annual for >95% LTV, base loan ≤$726,200, term >15 years |
| VA | 0% for eligible borrowers | No VA limit with full entitlement | No monthly PMI; funding fee unless exempt |
| USDA | 0% for eligible borrowers | Income, address and repayment eligibility | Guarantee and annual fees; confirm current schedule |
| Jumbo | Lender-specific cash and reserves | Above applicable conforming limit | Lender-specific pricing and insurance |
| Home Equity / Refinance | Equity and underwriting dependent | Property and lender dependent | Compare closing costs, term and break-even |
Sources: FHFA limits; HUD FHA limits.
Editorial Methodology & Primary Sources
Verification date: Not recorded; check the primary source and lender timestamp before relying on an estimate.
Rate comparisons use participating lender feeds, not a whole-market survey or guaranteed offers. Freddie Mac PMMS is a market benchmark, not a personalized quote. Calculator models rely on published regulatory formulas and disclosed assumptions rather than fabricated first-person loan testing.
Monthly principal and interest use the amortization formula P × r / (1 − (1 + r)−n), where r is the monthly note rate and n is the number of payments; at zero interest use P / n. PITI adds monthly property taxes and homeowners insurance; PMI is separate. APR includes applicable finance charges under Regulation Z and is not the note rate used for payments. Compare lender Loan Estimates for actual APR and fees.
- Consumer Financial Protection Bureau (CFPB) — Loan Estimates, APR and borrower disclosures; Regulation Z.
- U.S. Department of Housing and Urban Development (HUD / FHA) — FHA program guidance.
- U.S. Department of Veterans Affairs (VA) — VA loan eligibility and benefits.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — published rate benchmarks.
- U.S. Census state tax collections — state property tax benchmarks; confirm parcel-specific assessments and exemptions with the state revenue department and local assessor.
- West Virginia Housing Development Fund — state housing finance and property tax authority.
- West Virginia Tax Division — state housing finance and property tax authority.
The payment snapshot uses illustrative annual taxes of 1% of home price, $1,200 insurance and 0.5% PMI below 20% down, not verified local quotes. Other calculators disclose their inputs and assumptions. Published guidance and lender feeds may change independently; confirm current program rules, taxes and offers before a decision.