SB67
Log in to followAN 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 and contiguous real property 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…
Introduced: January 9, 2025
Last action: February 21, 2025
Plain-language summary
This bill proposes an amendment to Kentucky's Constitution that would freeze the assessed value of a home for property tax purposes once the owner turns 65 or purchases 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 amendment would go to Kentucky voters for final approval or rejection. Who it may affect: Kentucky homeowners who are 65 years of age or older.
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Legislative History
Primary Sponsor
Co-sponsors (17)
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