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Changes to the KY Homestead Act Could Save Boone County Seniors Thousands in Tax Dollars.

Presently, legislators in the Kentucky House of Representatives are considering making changes to the Homestead Exemption Act. The Homestead Exemption Act was established in 1972 as a constitutional amendment to exempt those disabled or 65 years and older a portion of their property's assessment bill from their property tax bill.

There are three bills being considered:

  • House Bill 61 - Raises the Homestead Exemption up to 125,000 of value of your home.

  • House Bill 62 - Removes the $6,500 exemption and lets the KY General Assembly set the new value each year as needed.

  • House Bill 111 - Would freeze the assessed value of property for those 65 or older.

Watch this short video to get more background and call your legislator and let them know what you think about these changes.



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