This bill amends the existing law regarding homestead property tax refund claims by excluding social security payments from the calculation of household income and increasing the eligibility thresholds for seniors and disabled veterans. Specifically, the household income limit for claimants is raised from $50,000 to $80,000, and the appraised value threshold for the claimant's homestead is increased from $350,000 to $595,000. Additionally, the bill establishes that these thresholds will be adjusted annually based on cost-of-living increases and changes in statewide residential property valuations starting in 2025.

Furthermore, the bill clarifies the definition of "household income" to exclude federal social security payments and specifies that the amendments to household income and appraised value thresholds will take effect for tax year 2025. The existing section of K.S.A. 2024 Supp. 79-4508a is repealed, and the new provisions will supplement the homestead property tax refund act. The bill aims to provide greater financial relief to eligible seniors and disabled veterans by making it easier for them to qualify for property tax refunds.

Statutes affected:
As introduced: 79-4508a