HB 503
AN ACT proposing to create a new section of the Constitution of Kentucky relating to property exempt from taxation.
In Plain Language
This would change Kentucky's Constitution to let active-duty military members and veterans avoid paying property taxes on their home. Homeowners would need to file paperwork with their local assessor to claim the exemption, and it would apply to homes assessed starting January 1, 2027. Kentucky voters would decide whether to approve this change.
Official summary
Propose to create a new section of the Constitution of Kentucky to exempt from state and local property taxes real property maintained as the permanent residence of an owner who is an active-duty member or honorably discharged veteran of the United States Armed Forces, the United States Reserve Forces, or the Kentucky National Guard; require the owner to file paperwork with the local assessor to receive the exemption; provide that the exemptions supersede contrary provisions of Sections 170, 171, 172, and 174 of the Constitution of Kentucky; apply the exemptions to property assessed on or after January 1, 2027; provide ballot language; submit to voters for ratification or rejection.
Sponsor
—
Cosponsors
None listed
Latest action
to Elections, Const. Amendments & Intergovernmental Affairs (H)
Feb 21, 2025
Official source
Action history
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