Kentucky HB137 proposes to amend the state constitution to exempt property tax increases for permanent residences of owners aged 65 or older.
Kentucky HB137 proposes to amend the state constitution to exempt from property tax any increase in the valuation of real property that is the permanent residence of an owner who is 65 years of age or older. This exemption applies to increases in valuation assessed after the owner turns 65 or after acquiring the property, whichever is later. The exemption is in addition to existing exemptions and will only apply to increases in property values occurring after the amendment is ratified by voters. The amendment will be published in newspapers and submitted to voters for ratification.
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- Core Provisions
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