Proposing to amend section 1 of article 11 of the constitution of the state of Kansas to limit property tax valuation increases for real property and personal property classified as mobile homes.
Impact
If approved, this amendment would significantly alter the framework of property taxation in Kansas. It would standardize how property valuations are assessed and can help protect residents from sudden and substantial increases in property taxes. The change aims to foster a more predictable financial environment for property owners, potentially enhancing homeownership stability. However, the amendment does allow for exceptions, which could apply in cases of new construction or other legal changes affecting property status, permitting some fluidity in tax assessments.
Summary
SCR1603 proposes an amendment to the Kansas state constitution that aims to limit the annual increases in property tax valuations for real property and personal property classified as mobile homes used for residential purposes. The resolution specifies that such valuations shall not exceed a 3% increase per year, or a lesser percentage as determined by law, except in specific circumstances such as new construction or changes in property classification. This measure is directed at providing stability in property taxes for homeowners and mobile home residents by controlling potential spikes in tax assessments.
Contention
The proposal might generate discussions regarding its implications for state revenue and the fiscal health of local governments. Critics may argue that capping property tax increases could constrain funding for public services, as property taxes significantly contribute to various municipal budgets. Supporters, however, might contend that the amendment is a necessary protection for taxpayers in ensuring they do not face unmanageable costs due to increased valuations, particularly in a housing market with fluctuating prices. This debate will likely focus on the balance between tax relief for citizens and the need for adequate funding for essential public services.
Proposing to amend section 1 of article 11 of the constitution of the state of Kansas to limit property tax valuation increases for real property and personal property mobile homes.
Proposing to amend section 1 of article 11 of the constitution of the state of Kansas to limit property tax valuation increases for residential property.
Proposing to amend Section 1 of Article 11 of the Constitution of the State of Kansas to determine valuations of residential property based on the average fair market value of the 10 prior years.
Proposing to amend section 1 of article 11 of the constitution of the state of Kansas to limit property tax valuation increases for residential property.
Proposing a constitutional amendment to provide authority to the legislature to limit property tax increases for residential property that is owned by and the principal place of residence of lawful permanent residents of Kansas who are 62 years of age or older or disabled or to exempt such property from ad valorem taxation.
Proposing to amend the Constitution of the State of Kansas to decrease by 1/2% a year for five years from 111/2% to 9% the assessed value for real property used for residential purposes.
Proposing to amend the constitution of the state of Kansas to decrease the assessed value for real property used for residential purposes to 10 1/2% for 2025 and 9 1/2% for 2026 and each year thereafter.
Proposing to amend section 1 of article 11 of the constitution of the state of Kansas to limit property tax valuation increases for real property and personal property mobile homes.
Senate Substitute for HCR 5011 by Committee on Assessment and Taxation - Proposing to amend section 1 of article 11 of the constitution of the state of Kansas to limit property tax valuation increases for real property and personal property classified as mobile homes.
Proposing to amend Section 1 of Article 11 of the Constitution of the State of Kansas to determine valuations of residential property based on the average fair market value of the 10 prior years.
Proposing to amend the constitution of the state of Kansas to authorize the legislature to provide for the classification and taxation of all-terrain vehicles.
Proposing to amend the constitution of the state of Kansas to decrease the assessed value for real property used for residential purposes to 10 1/2% for 2025 and 9 1/2% for 2026 and each year thereafter.
Proposing to amend the Constitution of the State of Kansas to decrease by 1/2% a year for five years from 111/2% to 9% the assessed value for real property used for residential purposes.