Kentucky HB245 proposes amending the state constitution to increase the homestead exemption to $75,000 and index it annually.
Kentucky HB245 proposes an amendment to the state constitution to increase the homestead exemption for property tax purposes to $75,000 and allows for annual indexing of this exemption amount. The amendment would apply to real property assessments starting on or after January 1, 2027. The proposal also includes provisions for the Secretary of State to certify the amendment and for county clerks to include it on ballots. The amendment will be submitted to voters for ratification or rejection.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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