Kentucky SB51 proposes to amend the state constitution to exempt property tax increases for permanent residences of owners aged 65 or older.

Kentucky SB51 proposes to amend the state constitution to exempt from property tax any increase in the valuation of the permanent residence of an owner who is 65 years of age or older. This exemption applies to increases in property values assessed after the owner turns 65 or after acquiring the property, whichever is later. The amendment would be submitted to voters for ratification and, if approved, would apply only to increases in property values occurring after the ratification date.

Kentucky SB51 proposes to amend the state constitution to exempt property tax increases for permanent residences of owners aged 65 or older.

Kentucky SB51 proposes to amend the state constitution to exempt from property tax any increase in the valuation of the permanent residence of an owner who is 65 years of age or older. This exemption applies to increases in property values assessed after the owner turns 65 or after acquiring the property, whichever is later. The amendment would be submitted to voters for ratification and, if approved, would apply only to increases in property values occurring after the ratification date.