This bill establishes a property tax exemption for homestead properties owned and occupied by individuals aged 65 and older in Kansas. It stipulates that the property taxes levied on such homesteads shall not exceed the established base year amount, which is defined as the taxable year when the property owner turns 65 or the year 2025 for those who turned 65 before 2026. To qualify for this exemption, applicants must have occupied the property as their primary residence for the previous taxable year and must be at least 65 years old as of January 1 of the taxable year for which the exemption is sought.

The bill also outlines the administrative process for applying for the exemption, requiring claimants to submit their applications to the county treasurer before April 1 of the calendar year. The county clerk is tasked with assisting claimants in the application process, and the division of property valuation is responsible for providing the necessary forms and instructions. The provisions of this act will take effect for all taxable years starting after December 31, 2025.