SEN. MIKE NEMES FILES SB 67
To provide financial relief to older residents.
PHOTO CREDIT: David Hargis, Photographer, Public Information Office, Legislative Research Commission
FRANKFORT, KY. (January 15, 2025) – Sen. Michael J. Nemes, R-Shepherdsville, filed Senate Bill 67 that would relieve Kentucky residents older than 65 from an increase in their property taxes resulting from rising property values. The measure could save homeowners hundreds of dollars per year.
If SB 67 were to be adopted by the Kentucky General Assembly, it would be placed on the 2026 ballot.
“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 and localities would be negligible, but it may mean the difference in keeping the heat on or not for some of our elderly residents, whose income remains constant.”
If passed, 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, which is similar to the existing homestead exemption.
The constitutional amendment outlined in SB 67 would change Section 170 of the Constitution of Kentucky. If SB 67 passes both chambers, as filed by Sen. Nemes, 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?
For real property maintained as the permanent residence of an owner who is sixty-five years of age or older, there shall be exempt from the assessment of ad valorem taxation any increase in the valuation of the owner's residence and contiguous real property that is assessed after the later of the year the owner turns sixty-five years of age or the year the owner purchased the real property. This exemption shall be in addition to the exemption provided to the property in Section 170 of this Constitution and is notwithstanding contrary provisions of Sections 171, 172, and 174 of this Constitution.
The legislature can place up to four proposed constitutional amendments on any even-year, general election 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.
If approved by a majority of voters, the constitutional amendment would be adopted.
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Sen. Mike Nemes, R-Shepherdsville, represents the 38th Senate District, encompassing Bullitt County and part of southern Jefferson County. Nemes serves as chair of the Senate State and Local Government Committee. He is also a member of the Senate Committees on Health Services, Judiciary, and Licensing and Occupations. Nemes is also a member of the IT Projects Oversight and Public Pension Oversight Board. He remains co-chair of the 2024 Efficient and Effective School Governance Task Force, which will continue its work throughout 2025.
For a high-resolution .jpeg file of Nemes, please visit: https://legislature.ky.gov/Legislators%20Full%20Res%20Images/senate138.jpg.
