Bill > HB503

This bill proposes a constitutional amendment to exempt from state and local property taxes the permanent residence of active-duty military members and honorably discharged veterans from the United States Armed Forces, United States Reserve Forces, or Kentucky National Guard. Specifically, the bill allows property owners who are currently serving or have honorably served in these military branches to receive a property tax exemption on their primary residence. To qualify, the property owner must file a signed statement with their local assessor by December 31 of the taxation period, declaring their active duty status or honorable discharge under penalty of perjury. The exemption would override any conflicting provisions in other sections of the Kentucky Constitution and would take effect for properties assessed on or after January 1, 2027. The proposed amendment will be submitted to Kentucky voters for ratification at the next regular election, with the Secretary of State required to publish the details of the proposed amendment in a newspaper of general circulation and ensure the full text appears on election ballots. If approved by voters, the property tax exemption would provide financial relief to military service members and veterans as a recognition of their service to the country.

Government Affairs

https://apps.legislature.ky.gov/record/25RS/hb503.html