Proposing to amend section 1 of article 11 of the constitution of the state of Kansas to value residential real property, commercial and industrial real property and mobile homes personal property based on the fair market value or average fair market value and providing that the legislature may provide by law for the freezing of property tax valuations for owner-occupied residential property of qualifying seniors.

Summary

The resolution changes Article 11, §1 to require residential, commercial, industrial real property and mobile‑home personal property be assessed at the lesser of fair market value or an average fair market value. It caps yearly assessment growth at 3% (or a lower rate set by law) and lets the legislature freeze valuations for qualifying owner‑occupied seniors. The amendment also sets classification percentages for different property types.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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