NEMES MARSHALS SB 23 THROUGH THE SENATE
Measure to be taken up in the House, could be on the November ballot
FRANKFORT, KY. (February 15, 2024) – Senator Michael J. Nemes, R-Shepherdsville, championed a measure that, if passed by the House, would relieve Kentucky residents older than 65 from an increase in their property taxes due to rising property values. Senate Bill (SB) 23 passed out of the Senate on February 9 and would be on the ballot this November for ratification or rejection, contingent upon House approval.
“Older residents on a fixed income struggle as it is since they grapple with a fluctuating economy in the golden years,” said Nemes. “The fiscal impact to the state would be negligible but it may mean the difference in keeping the heat on or not for some of our elderly residents.”
The constitutional amendment would exempt homeowners age 65 and older from any increase in the value of their primary, permanent residence and real property contiguous to it. This exemption would apply the year the owner turns 65 or the year the owner purchased the residence.
The constitutional amendment outlined in SB 23 would change Section 170 of the Constitution of Kentucky. If SB 23 passes both chambers, the actual language Kentucky residents would see on the ballot is:
Are you in favor of providing an additional ad valorem tax exemption for real property maintained as the permanent residence of an owner who is 65 years of age or older by amending the Constitution of Kentucky to read as stated below?
The legislature can place up to four proposed constitutional amendments on any ballot. All constitutional amendments must receive three-fifths support in both chambers of the Kentucky General Assembly and do not need approval from the Governor.
With a majority of voters' support, the constitutional amendment would be adopted and the constitution amended.
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Senator Mike Nemes, R-Shepherdsville, represents the 38th Senate District in Bullitt County and part of southern Jefferson County. He serves as Senate Budget Review Subcommittee on General Government, Finance, and Public Protection chair, and is vice chair of the Senate Standing Committees on State and Local Government; vice chair of the Licensing and Occupations Committee. Nemes is a member of the Senate standing committees on Appropriations and Revenue, and a member of the Health Services Committee. Additionally, he is a member of the Legislative Oversight and Investigations Statutory Committee and the Public Pension Oversight Board. Finally, Nemes is a member of the Budget Review Subcommittee on Judiciary. Nemes recently served on the Benefits Cliff Task Force and the Executive Branch Efficiency Task Force during the 2022 Interim.