Bill > SB67

This bill proposes a constitutional amendment to provide an additional property tax exemption for homeowners who are 65 years of age or older. Specifically, the bill would exempt any increase in the valuation of a permanent residence and its contiguous real property that is assessed after the later of the year the homeowner turns 65 or purchases the property. This exemption would be in addition to existing property tax exemptions and would override certain conflicting constitutional provisions. The proposed amendment would only apply to property value increases that occur after voter ratification. The bill requires the Secretary of State to publish the proposed amendment in a statewide newspaper and ensure it is included on ballots for voter consideration at the next regular election. If approved by voters, the amendment would provide older homeowners with protection against increased property tax assessments as their property value rises, potentially helping seniors maintain their homes by limiting tax burden growth.

Government Affairs

https://apps.legislature.ky.gov/record/25RS/sb67.html