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Bill > HB137
KY HB137
KY HB137AN ACT proposing to create a new section of the Constitution of Kentucky relating to property exempt from taxation.
summary
Introduced
01/07/2026
01/07/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Propose to create a new section of the Constitution of Kentucky to provide homeowners who are 65 years of age or older with an exemption from any increase in the valuation of their permanent residence that is assessed after the later of the year the homeowner turned 65 or the year the homeowner acquired the property; require the exemption to be in addition to the exemption provided in Section 170 of the Constitution of Kentucky and notwithstanding Sections 171, 172, and 174 of the Constitution of Kentucky; apply the exemption to increases in valuation that occur after the date the amendment is ratified by the voters; provide ballot language; submit to voters for ratification or rejection.
AI Summary
This bill proposes to amend the Kentucky Constitution to create a new property tax exemption for homeowners aged 65 and older. Specifically, it would exempt any increase in the assessed value of their permanent residence from property taxes, provided that the increase occurs after they turn 65 or after they acquire the property, whichever is later. This exemption would be in addition to any other property tax exemptions already provided by Section 170 of the Constitution and would override any conflicting provisions in Sections 171, 172, and 174. The bill also outlines the process for submitting this proposed amendment to the voters for their approval or rejection, including specific requirements for publication and ballot certification. If ratified, the exemption would only apply to valuation increases that happen after the amendment is approved by the voters.
Committee Categories
Government Affairs
Sponsors (3)
Last Action
to Elections, Const. Amendments & Intergovernmental Affairs (H) (on 01/14/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://apps.legislature.ky.gov/record/26RS/hb137.html |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/26RS/hb137/orig_bill.pdf |
| Local Mandate Fiscal Impact | https://apps.legislature.ky.gov/recorddocuments/note/26RS/hb137/LM.pdf |
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