| Last Action | 03/05/24: floor amendment (1) filed |
|---|---|
| Title | AN ACT relating to the valuation of real property for tax purposes. |
| Bill Documents | Introduced |
| Fiscal Impact Statement | Local Mandate |
| Bill Request Number | 975 |
| Sponsor | T. Huff |
| Summary of Original Version | Amend KRS 132.810 to require the assessed value of property qualifying for the homestead exemption with an owner who is 65 years of age or older be assessed at a value that is equal to or less than the value of the property in the year the owner turns 65 or the year the owner purchased the property, whichever occurs later; apply to property assessed on or after January 1, 2025. |
| Index Headings of Original Version |
Property - Assessed value, property tax, homestead exemption, owners who are 65 or older Taxation, Property - Assessed value, homestead exemption, owners who are 65 or older Aged Persons and Aging - Assessed value, property tax, homestead exemption, owners who are 65 or older Taxation - Property tax, assessed value, homestead exemption, owners who are 65 or older Local Mandate - Property tax assessment of property homeowners classified as totally disabled |
| Jump to Proposed Amendments | House Floor Amendment 1 |
| 01/03/24 |
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|---|---|
| 03/05/24 |
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| Amendment | House Floor Amendment 1 |
|---|---|
| Sponsor | J. Raymond |
| Summary | Amend KRS 132.810 to require the assessed value of property qualifying for the homestead exemption with an owner who is classified as totally disabled be assessed at a value that is equal to or less than the value of the property in the year the owner was classified as totally disabled or the year the owner purchased the property, whichever occurs later; establish priority requirements for assessing the property of an owner who is 65 years of age or older and classified as totally disabled. |
| Index Headings |
Disabilities and the Disabled - Property tax, assessment of property, homeowners classified as totally disabled Taxation - Property tax, assessment of property, homeowners classified as totally disabled Taxation, Property - Assessment of property, homeowners classified as totally disabled |
Last updated: 9/26/2024 1:37 PM (EDT)