Kansas 2023-2024 Regular Session

Kansas Senate Bill SB327

Introduced
1/8/24  
Refer
1/9/24  

Caption

Excluding social security payments from household income and increasing the appraised value threshold for eligibility of seniors and disabled veterans related to increased property tax homestead claims and citing the section as the golden years homestead property tax freeze program.

Impact

The proposed changes would have a substantial impact on state tax laws related to property taxation, particularly for vulnerable populations such as seniors and disabled veterans. By raising the appraised value threshold to $595,000 and increasing eligibility for refunds, the law intends to provide increased financial support to those who may struggle with property taxes as real estate values rise. Additionally, the removal of social security payments from income calculations aims to reflect a more accurate financial status of claimants, allowing more individuals to qualify for support.

Summary

Senate Bill 327, known as the Golden Years Homestead Property Tax Freeze Program, seeks to amend the eligibility criteria for property tax refunds for seniors aged 65 and older and disabled veterans in Kansas. The bill aims to exclude social security payments from the calculation of household income for the purpose of determining eligibility for tax refunds and proposes an increase in the appraised value threshold of eligible properties. This initiative is designed to alleviate the financial burden on these groups, ensuring they can retain their homes without excessive tax pressure.

Sentiment

The sentiment surrounding SB 327 appears largely positive among its advocates, who view the proposed changes as a necessary step to support seniors and disabled veterans facing rising housing costs. Many legislators and community organizations are rallying behind the bill, expressing a commitment to provide more substantial financial relief for these demographics. However, the bill also faces scrutiny from critics who are concerned about its long-term fiscal implications for the state budget and potential strain on public finances if a significant number of new claims are approved.

Contention

Notably, discussion around SB 327 may arise concerning the balance between providing financial assistance to deserving segments of the population and ensuring that tax changes do not negatively impact broader state funding capabilities. Opponents may argue that the increased tax exemptions could lead to a decrease in revenue, thereby affecting other vital state-funded services. The legislation will likely stimulate further debate on how best to support vulnerable residents while maintaining fiscal responsibility.

Companion Bills

No companion bills found.

Previously Filed As

KS SB215

Excluding social security payments from household income and increasing the household income and appraised value thresholds for eligibility of seniors and disabled veterans related to increased property tax homestead claims.

KS SB80

Excluding social security payments from household income and increasing the appraised value threshold for eligibility of seniors and disabled veterans related to increased property tax homestead claims.

KS SB40

Permitting the carryforward of certain net operating losses for individuals for Kansas income tax purposes and excluding social security payments from household income and increasing the appraised value and household income thresholds for eligibility of seniors and disabled veterans related to increased property tax homestead claims.

KS SB453

Excluding social security payments from household income and expanding eligibility related to increased property tax homestead property tax refund claims.

KS SB33

Exempting all social security benefits from Kansas income tax, providing income tax subtraction modifications for retirement plan amounts, federal work opportunity tax credit and employee retention credit disallowances and the carryforward of certain net operating losses, increasing the Kansas standard deduction by a cost-of-living adjustment and excluding social security payments from household income and increasing the appraised value threshold for eligibility of seniors and disabled veterans related to increased homestead property tax refund claims.

KS HB2003

Establishing the veterans' valor property tax relief act providing for an income tax credit or refund for eligible individuals, modifying the definition of household income and increasing the appraised value threshold for eligibility of seniors and disabled veterans related to increased property tax claims and citing the section as the homeowners' property tax freeze program, providing property tax exemptions for certain personal property including watercraft, marine equipment, off-road vehicles, motorized bicycles and certain trailers, excluding internal revenue code section 1031 exchange transactions as indicators of fair market value, providing for certain exclusions from the prohibition of paying taxes under protest after a valuation notice appeal and providing four prior years' values on the annual valuation notice.

KS HB2096

Establishing the veterans' valor property tax relief act providing for an income tax credit or refund for eligible individuals, increasing the tax credit amount for household and dependent care expenses, modifying the definition of household income and increasing the appraised value threshold for eligibility of seniors and disabled veterans related to increased property tax claims and citing the section as the homeowners' property tax freeze program, providing a property tax rebate for certain business property operated in competition with property owned or operated by a governmental entity, providing property tax exemptions for certain personal property including watercraft, marine equipment, off-road vehicles, motorized bicycles and certain trailers, excluding internal revenue code section 1031 exchange transactions as indicators of fair market value, providing for certain exclusions from the prohibition of paying taxes under protest after a valuation notice appeal and providing four prior years' values on the annual valuation notice.

KS SB452

Excluding certain school district bond and interest levies from increased property tax homestead refund claim amounts.

KS HB2074

Including homestead renters as eligible to participate in certain homestead property tax refund claims.

KS HB2636

Including homestead renters as eligible to participate in certain homestead property tax refund claims.

Similar Bills

No similar bills found.