26RS HB 317

House Bill 317

Actions

Last Action	01/12/26: to Committee on Committees (H)
Title	AN ACT proposing to create a new section of the Constitution of Kentucky relating to property exempt from taxation.
Bill Documents	Introduced
Fiscal Impact Statement	Local Mandate
Bill Request Number	1346
Sponsor	D. Grossberg
Summary of Original Version	Propose to create a new section of the Constitution of Kentucky to exempt homeowners who are 65 years of age or older from any increase in the valuation of their permanent residence that is assessed after the later of the year the homeowner turned 65 or the year the homeowner acquired the property; require the exemption to be in addition to the exemption provided in Section 170 of the Constitution of Kentucky; apply the exemption only to increases occurring until the assessed value of the property is $500,000; prohibit exempting increases occurring after the real property is assessed above $500,000; require the $500,000 to be indexed every two years; require any portion of the assessed value previously exempted under this section to retain its exempt status as long as the real property continues to be maintained as the permanent residence of the owner who is 65 years of age or older; require the exemption to be notwithstanding Sections 171, 172, and 174 of the Constitution of Kentucky; apply the exemption to increases in valuation that occur after the date the amendment is ratified by the voters; provide ballot language; submit to voters for ratification or rejection.
Index Headings of Original Version	Local Mandate - Property tax, homestead exemption, owners who are 65 or older, proposed constitutional amendment Aged Persons And Aging - Property tax, homestead exemption, owners who are 65 or older, proposed constitutional amendment Constitution, Ky. - Property tax, homestead exemption, owners who are 65 or older, proposed constitutional amendment County Clerks - Constitutional amendment, homestead exemption for owners 65 or older, ballot language Elections And Voting - Constitutional amendment, homestead exemption for owners 65 or older, ballot language Secretary Of State - Constitutional amendment, homestead exemption for owners 65 or older, ballot language Taxation - Property tax, homestead exemption, owners who are 65 or older, proposed constitutional amendment Taxation, Property - Homestead exemption, owners who are 65 or older, proposed constitutional amendment Property - Tax, homestead exemption, owners who are 65 or older, proposed constitutional amendment