SB 1 REDUCES TAXES FOR ALL KANSAS TAXPAYERS
SB 1 passed the legislature with large bipartisan majorities. It cuts income taxes for all Kansans, cuts property taxes for nearly all homeowners, eliminates Kansas Income Tax on Social Security Benefits and doubles the State's Child Dependent Care tax credit from 25 % to 50% of the federal credit.
PROPERTY TAX CUT:
The property tax cut in SB 1 is disappointing. I had hoped for more. In fact, the cut was significantly less than SB 37, which was the tax bill passed at the end of the session and vetoed by the Governor. I am committed to working hard next session to pass additional property tax relief.
As passed everyone owning a home worth $75,000 or more will get a $75,000 exemption from paying the 20 mills that is levied for schools. That amounts to a $172.50 tax reduction. In 2021 we passed a $40,000 exemption that provided $92 in tax relief. That exemption was indexed to increase with inflation. If we had passed no tax bill this year, each homeowner would have received an estimated $101.20 tax cut. By passing SB 1, that means the exemption will result in a $172.50 property tax reduction (instead of $101.20), resulting in an approximate $70 additional property tax cut.
