A proposal capping property tax assessments moved out of Senate committee on Wednesday as the Legislature takes its first steps toward addressing property taxes ahead of this year’s elections. The Senate tax committee approved a constitutional amendment that would cap the taxable assessed property value at 3% with several limited exceptions, including new construction or improvements and if there is an error calculating the tax assessment. The cap would transfer if the property is sold or transferred. For tax year 2027, the final taxable assessed values hall not increase by more than 3% compared to the assessed value of the property for tax year 2022. The amendment, if approved by two-thirds of the Legislature, would have to be ratified by Kansas voters during this year’s primary election on Aug. 4. The amendment is an attempt to respond to constituent complaints about rising property taxes, something lawmakers addressed nominally last year but couldn’t agree on a broader proposal to hold down property taxes.
Read more: Sunflower State Journal
