Governor signs bill cutting property taxes

Submitted

Governor Laura Kelly ceremonially signed legislation at a Topeka home to celebrate the bipartisan passage of House Bill 2239, which cuts property taxes. It provides additional tax relief for Kansas veterans and the elderly through property tax refunds and gives tax credits to teachers who purchase school supplies out of their own pockets.

“I know inflation is hurting everyone’s wallet, and costs are going up,” Governor Kelly said. “So today, we’re celebrating a bipartisan tax cut for families to put money back into Kansans’ pockets. Families will now have more money to buy food, school supplies or pay the bills – every bit helps. We’ll continue to make fiscally responsible decisions to provide relief to Kansans across the state.”

“It has always been a dream of mine to make it easier for fixed income seniors and disabled veterans to stay in their homes,” said Senator Tom Holland, the Ranking Minority Member on the Senate Assessment and Taxation Committee. “Seniors and veterans have contributed so much to our communities, our state and our country, and this bill gives everyone another reason to live out their golden years in their home right here in Kansas.”

“I was proud to work with legislators from both parties on legislation that provides needed tax relief for homeowners and encourages growth and re-investment in two of our largest industries — agriculture and aviation,” said Representative Adam Smith, Chair of the House Taxation Committee. “The investments and tax credits that we are making this year are designed to promote economic growth throughout the state for many years to come while keeping taxes property taxes low for homeowners.”

Residential property taxes for up to the first $40,000 of assessed value will be exempt. This tax cut will save Kansans more than $133.5 million in residential property taxes and apply to more than one million properties across the state.

In addition, HB 2239 provides Kansans 65-plus years of age, surviving spouses or disabled veterans a new Homestead Property Tax refund program beginning the 2022 tax year. This program will refund based on the change in property tax rates. Property tax relief was highlighted in the final report presented by the Governor’s Council on Tax Reform which looked at a broad approach to balancing sales, income and property taxes to make Kansas a more attractive place to live and work.

0 Comments

What Are Your Thoughts?

Login

Welcome! Login in to your account

Remember me Lost your password?

Lost Password