Experts caution that broad property tax changes could strain funding for schools and local services
A proposed constitutional amendment that would freeze property tax assessments for 65-and-older residents in Kentucky has cleared a state Senate committee — one of several efforts to limit rising tax bills for elderly homeowners.
Senate Bill 51, sponsored by state Sen. Mike Nemes (R-Shepherdsville), would lock in the assessed value of a senior’s primary residence and prevent higher property tax bills driven by valuation increases.
Seniors would still pay property taxes but on the home’s frozen value.
If approved by three-fifths of both chambers of the Kentucky General Assembly, the measure would go before voters in November as a constitutional amendment.
Well that’s a start.
More than we can say in Maryland.