TOPEKA (KSNT) – A bipartisan bill lowering property taxes was signed Wednesday by Kansas Gov. Laura Kelly.

Gov. Kelly signed House Bill 2239 Wednesday which is said to cut property taxes, provide tax relief for Kansas veterans and the elderly, plus provide tax credits to teachers who purchase school supplies out of their own pockets.

“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,” Representative Adam Smith, Chair of the House Taxation Committee, said. 

Smith said he believed the cuts would promote economic growth.

“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,” Gov. Kelly said.

According to a statement by the governor’s office, residential property taxes for up to the first $40,000 of assessed value will be exempt. This property 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. 

More information about HB 2239 can be found here.