The legislature did not address tax reform this session. Governor Bevin and legislative leaders have repeatedly said that everything is on the table and to expect a special session later this year. Throughout the session, groups representing every aspect of our economy reached out to elected officials defending their preferred tax credit, deduction and program.
In the near future, Governor Bevin will produce his version of tax reform and promote it to the state legislature and the public in preparation for the special session. Kentucky REALTORS® will remain engaged on the important issue to defend homeownership and encourage economic growth.
As the Governor and the General Assembly review the entire tax code, evaluating rates, exemptions, credits and incentives, it is important to understand how vital the current real estate tax provisions are to the housing market and the overall economy. Kentucky REALTORS® will strongly oppose policies that will negatively impact home sales and put homeownership out of reach.