This bill establishes a restriction on homestead property taxes for individuals aged 65 and older in Kansas. Upon filing an application with the county treasurer, the property taxes levied on a homestead that is predominantly used as a residence by qualifying individuals will not exceed the established base year amount. If the current taxes are lower than this base year amount, the lower amount will be used as the new base year for subsequent years. To qualify, property owners must have occupied the homestead for the previous taxable year and be at least 65 years old before January 1 of the taxable year for which the exemption is sought.

Additionally, the bill outlines the responsibilities of county clerks and treasurers in assisting claimants with the application process, which must be submitted before April 1 for the calendar year. The definition of "base year" is specified as the year the property owner turns 65 or the year 2025 for those who turned 65 before 2026. The provisions of this act will take effect for all taxable years starting after December 31, 2025.