Kansas 2023-2024 Regular Session

Kansas Senate Bill SB452

Introduced
2/5/24  
Refer
2/6/24  

Caption

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

Impact

If enacted, SB452 could lead to significant changes in the way property taxes and school funding are handled in the state. Homeowners who benefit from homestead exemptions may see a different impact on their tax refunds, as the exclusion of specific levies could lower the amount they receive back. Furthermore, school districts could experience fluctuations in bond and interest income, which could affect their overall budget and financial stability, particularly in areas reliant on such funding for capital projects.

Summary

SB452 focuses on the financial interactions between school districts and property tax homestead refunds. Specifically, the bill seeks to exclude certain school district bond and interest levies from the increased property tax homestead refund claim amounts. This exclusion potentially alters the calculation for homeowners who claim homestead exemptions, impacting how much they can recover through property tax refunds.

Contention

The bill has the potential to generate debate among legislators and stakeholders regarding the balance between providing adequate funding for education and protecting homeowner tax rights. Critics may argue that by excluding certain levies, the bill might undermine the financial resources available to school districts. Conversely, supporters might advocate that protecting homeowners from increased property tax burdens is a necessary measure in the current economic climate.

Companion Bills

No companion bills found.

Previously Filed As

KS SB453

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

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.

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 SB327

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.

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 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 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 SB2

Eliminating the income limit to qualify for the subtraction modification exempting social security benefits, increasing the income tax credit amount for household and dependent care expenses, establishing the veterans' valor property tax relief act providing for an income tax credit or refund for eligible individuals, citing the increased property tax homestead refund claim section as the homeowners' property tax freeze program, decreasing the normal privilege tax rate, increasing the extent of property tax exemption for residential property from the statewide school levy, decreasing the rate of ad valorem tax imposed by a school district; providing for certain transfers to the state school district finance fund, reducing the state rate of tax on sales of food and food ingredients and modifying the percent credited to the state highway fund from revenue collected.

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.

Similar Bills

No similar bills found.