Kentucky HB242 proposes a constitutional amendment to exempt certain property from taxation.
Kentucky HB242 proposes a constitutional amendment to exempt from taxation certain property owned by veterans, first responders, and their surviving spouses. The amendment would exempt 40% of the assessed valuation for veterans with a 100% service-connected disability, 30% for first responders with ten or more years of service, 20% for veterans with ten or more years of service, and 10% for surviving spouses of veterans or first responders. The amendment would be subject to voter approval and would apply to property assessed after January 1, 2028.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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