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 7, 2025

Last action: February 4, 2025

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

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This bill proposes an amendment to Kentucky's Constitution that would freeze the assessed value of a home for property tax purposes once a homeowner turns 65 or purchases their home, whichever comes later. That means older homeowners would not pay higher property taxes based on any increase in their home's value after that point. Because it is a constitutional amendment, it would go before Kentucky voters to approve or reject before taking effect. Who it may affect: Kentucky homeowners who are 65 years of age or older.

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