KY HB137

Proposes a constitutional amendment to exempt homeowners age 65 and older from property tax increases on their permanent residence, freezing the assessed value at the level when the owner turned 65 or acquired the property, whichever is later

Requires voter ratification at a regular General Assembly election, with the amendment published in a statewide newspaper by the first Tuesday in August preceding the election

Adds to the existing homestead exemption under Section 170 of the Kentucky Constitution and overrides contrary provisions in Sections 171, 172, and 174

Applies only to increases in real property values occurring after voters ratify the amendment, not retroactively