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HCR 5024

Proposing to amend section 1 of article 11 of the constitution of the state of Kansas to establish the taxable valuation of real property used for residential purposes based on the sales price for the year in which the property transferred ownership if the transfer was sold at fair market value or valued pursuant to law as fair market value in the year in which the transfer occurred for the current owner.

2025-2026 Regular Session

Kansas constitutional amendment ties residential property tax valuation to actual sales prices, potentially raising taxes on appreciated homes and reducing local government revenue predictability.

Died in Committee
#constitutionalamendments(kansas) #resolutions
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Bill Summary · HCR 5024

Legislative bill overview

HCR 5024 proposes a constitutional amendment in Kansas that would change how residential property is taxed by basing the taxable valuation on the actual sales price at the time of transfer, rather than the current valuation method. This amendment would apply when properties are sold at fair market value and would affect the tax base for the current owner going forward.

Why is this important

Property tax valuation methods directly impact how much homeowners pay in taxes and influence housing affordability and local tax revenue. Kansas currently uses a different valuation system, so this change would represent a significant shift in how residential properties are assessed for tax purposes, potentially affecting both individual taxpayers and school districts and municipalities that depend on property tax revenue.

Potential points of contention

  • Tax burden redistribution: Properties that appreciated significantly since last sale would face higher taxes, while newly purchased properties would lock in lower valuations, creating potential inequities between long-time and new homeowners
  • Revenue volatility: Basing valuations on sales prices means fewer sales in certain neighborhoods could reduce assessed values and local government revenue, creating budget uncertainty for schools and services
  • Impact on housing market: Higher taxes on appreciated properties could discourage home sales and refinancing, potentially reducing market liquidity and affecting real estate transactions in the state

Compiled from official sources — confirm details with the bill’s official record.

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