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 amount 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 repeals the existing section of K.S.A. 2024 Supp. 79-201x, which indicates a significant change in the law regarding property tax exemptions. The new provisions will take effect on January 1, 2026, following its publication in the statute book.

Statutes affected:
As introduced: 79-201x