AN ACT proposing to create a new section of the Constitution of Kentucky relating to property exempt from taxation.

Summary

The bill would add a new constitutional provision that stops any rise in the assessed value of a permanent residence owned by someone 65 or older from being taxed. The exemption is added to the existing homeowner exemption and would only apply to value gains that occur after voters approve the amendment. It is currently referred to the Elections, Constitutional Amendments & Intergovernmental Affairs Committee.

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