AN ACT relating to the valuation of real property for tax purposes.

Amend KRS 132.810 to require the assessed value of property qualifying for the homestead exemption with an owner who is 65 years of age or older be assessed at a value that is equal to or less than the value of the property in the year the owner turns 65 or the year the owner purchased the property, whichever occurs later; apply to property assessed on or after January 1, 2025.