HB 503

Bill Subjects

Constitution, Ky. County Clerks Elections And Voting Local Mandate Military Affairs And Civil Defense Property Property Valuation Administrators Secretary Of State Taxation Taxation, Property Veterans

Abstract

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.