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Bill > HB317
KY HB317
KY HB317AN ACT proposing to create a new section of the Constitution of Kentucky relating to property exempt from taxation.
summary
Introduced
01/12/2026
01/12/2026
In Committee
01/20/2026
01/20/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Propose to create a new section of the Constitution of Kentucky to exempt homeowners who are 65 years of age or older 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; apply the exemption only to increases occurring until the assessed value of the property is $500,000; prohibit exempting increases occurring after the real property is assessed above $500,000; require the $500,000 to be indexed every 2 years; require any portion of the assessed value previously exempted under this section to retain its exempt status as long as the real property continues to be maintained as the permanent residence of the owner who is 65 years of age or older; require the exemption to be 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, which would be in addition to any existing exemptions. Specifically, it would exempt any increase in the assessed value of their permanent residence from property taxes if that increase occurs after they turn 65 or after they acquire the property, whichever is later, and only up to a total assessed value of $500,000. This $500,000 limit would be adjusted every two years to account for inflation, and any portion of the property's value that was previously exempted would remain exempt as long as it remains the owner's permanent residence. The exemption would not apply to increases in value that push the total assessed value above $500,000, though previously exempted portions would retain their status. This proposed constitutional amendment, if approved by voters, would take effect for valuation increases occurring after its ratification.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
to Elections, Const. Amendments & Intergovernmental Affairs (H) (on 01/20/2026)
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/hb317.html |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/26RS/hb317/orig_bill.pdf |
| Local Mandate Fiscal Impact | https://apps.legislature.ky.gov/recorddocuments/note/26RS/hb317/LM.pdf |
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