West Virginia Veterans Now Eligible for New Tax Credit

Jar with money in it labeled "tax" and the words: West Virginia Veterans Now Eligible for New Tax Credit
Jar with money in it labeled "tax" and the words: West Virginia Veterans Now Eligible for New Tax Credit

Following the passage of the Property Tax Adjustment Act of 2023 (H.B.2526), beginning January 1, 2024, honorably discharged military Veteran residents of the state may be eligible for a tax credit contingent upon property taxes. If you are a West Virginia veteran with a 90 percent or greater Combined Disability Rating through the federal VA, you may qualify for a tax credit in the amount of your property tax paid to your county of residence.

This tax credit will be applied to the veteran’s state income tax burden on your 2024 taxes. If the amount exceeds what you owe on your state income tax or if you don’t typically file state income tax returns, you can claim a reimbursement in the amount of the credit.

This benefit replaces the previous homestead exemption of $20,000 reduction on assessed value for 100 percent permanent and totally disabled veterans. Funds are not issued through county offices, and the amount of property tax paid to counties is not reduced.

For a property to qualify for the tax credit, property tax amounts to be credited must have been paid to a county sheriff on a homestead that is used or occupied exclusively for residential purposes. Additionally, the credit will not be offered on payment of delinquent real property tax or “back taxes.”

For more information, see West Virginia State Code §11-13MM-4, Disabled veteran real property tax credit.