Bill > HB242

This bill proposes to amend the Constitution of Kentucky to create new property tax exemptions for the permanent residences of certain individuals. Specifically, it would exempt 40% of the assessed value for veterans with a 100% service-connected disability, 30% for totally disabled first responders injured in the line of duty, 20% for veterans with ten or more years of service, and 10% for first responders with ten or more years of service. To qualify for disability-based exemptions, owners must meet the disability requirements outlined in Section 170 of the Constitution. The surviving spouse of a qualifying veteran or first responder could also receive the exemption, provided they do not remarry. The General Assembly would be empowered to define who qualifies as a veteran, first responder, or surviving spouse. Importantly, a property cannot receive more than one exemption under this new provision, though it can still receive the existing exemption under Section 170. These new exemptions would supersede any conflicting provisions in Sections 171, 172, and 174 of the Constitution and would apply to property assessed on or after January 1, 2028. The bill also outlines the process for submitting this proposed amendment to voters for their approval.

Government Affairs

https://apps.legislature.ky.gov/record/26RS/hb242.html