AN ACT relating to the property tax homestead exemption.

HB 52 would change Kentucky's property tax homestead exemption to adjust its value annually based on the U.S. Department of Labor's cost-of-living index, instead of every two years. This affects qualifying homeowners aged 65+ or those classified as totally disabled under federal or state programs who claim the homestead exemption. The bill modifies Section 132.810 to require annual adjustments whenever the cost-of-living index changes by 1%, ensuring the exemption's purchasing power keeps pace with inflation more frequently. Currently, adjustments occur biennially until 2025, then annually starting in 2026; this bill would make the annual adjustment the standard from the outset.