This bill amends K.S.A. 2024 Supp. 79-201x to increase the exemption for residential property from the statewide school levy. Specifically, it raises the exemption amount from $75,000 to $125,000 of the appraised valuation for taxable years 2025 and beyond. 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 act is set to take effect following its publication in the statute book, thereby providing immediate relief to homeowners by reducing their property tax burden related to the statewide school levy. This legislative change aims to support residential property owners by increasing the amount of their property that is exempt from taxation.

Statutes affected:
As introduced: 79-201x, 72-5142