132.024 Limits for special purpose governmental entities on personal property tax

116 words·~1 min read·/ky/132-024

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

rate.

(1)If the tax rate applicable to real property levied by a special purpose governmental

entity will produce a percentage increase in revenue from personal property less

than the percentage increase in revenue from real property, the special purpose

governmental entity may levy a tax rate applicable to personal property which will

produce the same percentage increase in revenue from personal property as the

percentage increase in revenue from real property.

(2)The tax rate applicable to personal property levied by a special purpose

governmental entity under the provisions of subsection

(1)of this section shall not

be subject to the public hearing provisions of KRS 132.023(2) and to the recall

provisions of KRS 132.023(3).