This bill amends K.S.A. 2024 Supp. 79-201x to increase the exemption from the statewide school levy for residential property. Specifically, it raises the exemption threshold from $75,000 to $110,000 of appraised valuation for taxable years 2026 and beyond. Additionally, starting in taxable year 2027, the exemption amount will be adjusted annually based on the average percentage change in statewide residential valuation over the preceding ten years, ensuring that the adjustment will not be less than zero.

The bill also includes a provision to repeal the existing section of K.S.A. 2024 Supp. 79-201x. The new law will take effect on January 1, 2026, following its publication in the statute book. This legislative change aims to provide greater tax relief for residential property owners in Kansas.

Statutes affected:
As introduced: 79-201x