Kentucky HB317 proposes a constitutional amendment to exempt property tax increases for owners aged 65 and older.
Kentucky HB317 proposes a constitutional amendment to exempt property tax increases for real property that is the permanent residence of an owner aged 65 or older. This exemption applies to increases in the valuation of the property assessed after the owner turns 65 or acquires the property. The exemption will only apply until the property is assessed at $500,000, with the assessment indexed every two years. The amendment will be submitted to voters for ratification or rejection at the next regular election.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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