Summary of Original Version

Amend KRS 132.810 to require the assessed value of property qualifying for the homestead exemption with an owner who is 65 years of age or older be assessed at a value that is equal to or less than the value of the property in the year the owner turns 65 or the year the owner purchased the property, whichever occurs later; apply to property assessed on or after January 1, 2025.

Summary of Amendment: House Floor Amendment 1 -- J. Raymond

Summary Amend KRS 132.810 to require the assessed value of property qualifying for the homestead exemption with an owner who is classified as totally disabled be assessed at a value that is equal to or less than the value of the property in the year the owner was classified as totally disabled or the year the owner purchased the property, whichever occurs later; establish priority requirements for assessing the property of an owner who is 65 years of age or older and classified as totally disabled.

Statutes affected:
Introduced: 132.810