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

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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