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

This bill proposes a change to the Kentucky Constitution that would freeze the assessed value of a home for property tax purposes once the owner turns 65 or acquires the property, whichever comes later. That means older homeowners would not pay higher property taxes based on rising home values after that point. If passed by the legislature, the proposed amendment would go on the ballot for Kentucky voters to approve or reject. Who it may affect: Kentuckians age 65 and older who own their primary residence, as well as local governments that rely on property tax revenue.

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