24RS HB 61

Actions

Last Action	01/02/24: to Committee on Committees (H)
Title	AN ACT relating to the property tax homestead exemption.
Bill Documents	Introduced
Fiscal Impact Statements	Fiscal Note Local Mandate
Bill Request Number	236
Sponsors	R. Dotson, T. Huff
Summary of Original Version	Amend KRS 132.810 to remove the requirement that the homestead exemption be construed to mean $6,500 in terms of the purchasing power of the dollar in 1972 and the cost-of-living indexing requirement; require the amount of the homestead exemption to be 50% of the first $250,000 in assessed value for qualifying real property; EFFECTIVE only upon the ratification by voters of an amendment to Section 170 of the Kentucky Constitution.
Index Headings of Original Version	Local Mandate - Property tax, homestead exemption amount Fiscal Note - Property tax, homestead exemption amount Disabilities and the Disabled - Property tax, homestead exemption amount Effective Dates, Delayed - Property tax, homestead exemption amount, effective upon ratification of constitutional amendment Taxation, Property - Homestead exemption amount Aged Persons and Aging - Property tax, homestead exemption amount Taxation - Property tax, homestead exemption amount