42.495 Effect of reduction of local general tax effort.
100 words·~1 min read·
/ky/chapter-42/42-495A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)If a qualifying local government unit reduces its general tax effort for any fiscal
year, below the level of fiscal year 1991-92, that governmental unit shall forfeit
funds that would otherwise be available under the provisions of KRS 42.450 to
42.495 on a dollar-for-dollar basis.
(2)For purposes of this section, "general tax effort" shall mean the total revenues
raised in fiscal year 1991-92 from the levy of all of the taxing district's taxes in
fiscal year 1991-92. Taxes based upon the 1991 assessment of property shall be
considered to be taxes levied and collected for fiscal year 1991-92.