Authorizing a transfer of state general fund moneys to the local ad valorem tax reduction fund in fiscal year 2025 and all fiscal years thereafter, requiring political subdivisions to credit all such moneys to residential property taxpayers in the form of a rebate and providing a formula for such rebate amount.
Increasing the extent of property tax exemption from the statewide school levy for residential property to $100,000 of such property's appraised valuation.
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.