Proposing to amend section 1 of article 11 of the constitution of the state of Kansas to value residential real, commercial and industrial real property and mobile homes property based on the fair market value or average fair market value of the residential portion and providing the legislature the authority to establish valuation limits for any classes or subclasses of property.

This bill proposes constitutional changes to Kansas property taxation and administrative rule oversight. It would require residential, commercial, and industrial properties, as well as mobile homes, to be valued based on their fair market value while giving the legislature the power to set valuation limits for specific property classes. Additionally, the bill grants the legislature authority to review and revoke administrative rules if they are found to be obsolete, unenforced, or harmful to public safety and the economy. These changes directly affect property owners and state agencies responsible for assessing taxes and creating regulations.