Bill > HB233

This bill proposes to amend Section 172B of the Constitution of Kentucky to allow the General Assembly to authorize local governments to implement property assessment or reassessment moratoriums, which are temporary freezes on property tax assessments. These moratoriums would be used to encourage the development, repair, rehabilitation, or restoration of real property. Importantly, the bill removes the previous five-year limit on such moratoriums, allowing the General Assembly to determine their duration, and expands their purpose to include the initial development of property, not just existing improvements. The proposed changes will be presented to Kentucky voters for their approval or rejection in an upcoming election.

Government Affairs

https://apps.legislature.ky.gov/record/26RS/hb233.html