Proposing to amend section 1 of article 11 of the constitution of the state of Kansas to value residential real, commercial and industrial real property and mobile homes property based on the fair market value or average fair market value of the residential portion and providing the legislature the authority to establish valuation limits for any classes or subclasses of property.

Summary

The amendment would require residential, commercial, industrial and mobile‑home property to be valued for tax purposes at the lower of its current fair market value or an average of fair market values over a set period. It also lets the Kansas Legislature set valuation caps for any property class and gives lawmakers authority to approve, revoke or suspend administrative rules they deem obsolete, burdensome or harmful. The changes would affect all property owners and the way state agencies create regulations.

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