KY HB877

Proposes a constitutional amendment to exempt all property owned by seniors age 65 or older from taxation, expanding the current exemption which only covers their primary residence up to $6,500 assessed value

Creates a new property tax exemption for former U.S. Armed Forces members (including National Guard) who are 100% service-connected combat-related disabled, and extends this exemption to their surviving spouse upon the veteran's death

Requires the amendment to be submitted to Kentucky voters for ratification at the next regular election when General Assembly members are chosen

Mandates the Secretary of State to publish the full amendment text in a statewide newspaper by the first Tuesday in August before the election

If ratified by voters, the new exemptions would apply to property assessed on or after January 1, 2027