AN ACT proposing to create a new section of the Constitution of Kentucky relating to property exempt from taxation.

Propose to create a new section of the Constitution of Kentucky to exempt for homeowners who are 65 years of age or older 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 purchased the property; require the exemption to be in addition to the exemption provided in Section 170 of the Constitution of Kentucky and notwithstanding Sections…

Introduced: January 8, 2025

Last action: February 4, 2025

To Elections, Const. Amendments & Intergovernmental Affairs (H)

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This bill proposes a change to Kentucky's Constitution that would freeze the assessed value of a home for property tax purposes once a homeowner turns 65 or purchases the property, whichever comes later. That means older homeowners would not see their property tax bill rise due to increases in their home's assessed value after that point. If approved by the legislature, the proposed change would go on the ballot for Kentucky voters to ratify or reject. Who it may affect: homeowners aged 65 and older who own and live in their permanent residence in Kentucky.

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