96.179 Payment of tax equivalent.
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/ky/chapter-96/96-179A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In lieu of taxes, the board may each year pay to each school district and municipality in which its property is located an amount equivalent to an annual ad valorem tax on the fair cash value of the property of the board located in each such jurisdiction, determined upon the tax rate prevailing in such year.