Ky. Rev. Stat. Ann. ch. 132 – Levy And Assessment Of Property Taxes | Midpage

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Kentucky Revised Statutes

Chapter 132

Ky. Rev. Stat. Ann. ch. 132

Levy And Assessment Of Property Taxes

Commonwealth of Kentucky

132.010Definitions for chapter.132.012"Abandoned urban property" defined -- Classification as real property for tax purposes.132.015List of real property additions and deletions to tax rolls to be maintained by property valuation administrator.132.017Recall petition -- Requirements and procedures -- Reconsideration -- Election -- Tax dollars not to be used to advocate for or against public question -- Second billing. (Effective until July 15, 2026)132.018Reduction of tax rate on personal property.132.020State ad valorem taxes.132.0225Deadline for establishing final tax rate -- Exemption -- Procedure if increased revenue is greater than four percent.132.023Limits for special purpose governmental entities -- Procedure for exceeding limits.132.024Limits for special purpose governmental entities on personal property tax rate.132.025Cumulative increase for 1982-83 only by taxing district -- Limit -- Public hearing and recall provisions not applicable.132.027City and urban-county government tax rate limitation -- Levy exceeding compensating tax rate subject to recall vote or reconsideration.132.028Rate on business inventories levied by a city or urban-county government -- Exception.132.029Limits for city and urban-county government on personal property tax rate.132.030Financial institution deposit tax.132.040Financial institutions to report and pay tax -- Lien.132.096Exemption from state and local ad valorem tax of various classes of property. (Effective until July 15, 2026)132.097Exemption from state ad valorem tax of personal property held for shipment out of state.132.099Local taxation of personal property held for shipment out of state -- Definitions.132.100Referendum on act classifying property for taxation -- Petition.132.110Certification of petition for referendum -- Publication of act.132.120Certification of question -- Vote on referendum -- Certification and publication of results -- Expenses.132.130Distilled spirits in bonded warehouses to be reported by proprietor or custodian.132.140Assessment of distilled spirits by department -- Maximum tax rate on distilled spirits in revenue bond-financed warehouse and in barrels located in bonded warehouse or premises -- Failure to report.132.150Valuation of distilled spirits certified to county clerks -- Local tax rate.132.160Taxes on distilled spirits and spirits on which federal taxes not paid, when due -- Removal of spirits -- Interest.132.180Liability for distilled spirits tax.132.190Property subject to taxation -- Situs.132.191Valid valuation methods -- Minimum applicable appraisal standards -- Property valuation of multi-unit rental housing subject to government restriction on use.132.193Assessment of possessory interests in tax-exempt personal property -- Lessee's liability.132.195Assessment of possessory interest in tax-exempt real or personal property -- Lessee's liability. (Effective until January 1, 2027)132.200Property subject to state tax only.132.202Tax on municipal solid waste disposal facility's real and tangible personal property.132.212Veteran service organization qualifying as institution of public charity -- Not subject to ad valorem taxation.132.220Assessment dates -- Listing -- Owner -- Liability -- Exemptions, listing, annual review.132.227Situs of vehicle.132.230Information to be given in listing property for taxation -- Correction of error or informality.132.260Rental space for parking mobile homes and recreational vehicles -- Report -- Right to inspect.132.270Reporting and assessment of property held in pawn or pledge -- Lien.132.275Public utilities in county containing city of first class or consolidated local government to give property valuation administrator information concerning customers.132.280County tax levy to be based on state assessment -- Exception for special taxing district.132.285Use by city of county assessment allowance for costs -- City's power in adopting procedures to use county assessment -- Appropriation.132.290Omitted property, what constitutes -- Periods within which it may be assessed retroactively -- Penalties and interest.132.310Listing and assessment of omitted property -- Notice -- Appeal -- Penalties.132.320Listing of omitted property with department -- Appeal - Collection and distribution of tax -- Deduction of fee from distribution.132.330Action by Department of Revenue to assess omitted property.132.340Order of county judge/executive assessing omitted property -- Certifying of assessment -- Penalties -- Collection.132.350County attorney shall assist in tax assessment proceedings in court -- Compensation.132.360Reopening and increase of assessment -- Notice -- Protest -- Certification.132.370Property valuation administrator's status as state official -- Election -- Qualification -- Terms -- Removal -- Accrued leave and compensatory time.132.375Designation of qualified department employee to fill vacancy.132.380Examination of candidates for property valuation administrator -- Certificate.132.385Education program by department -- Certification program for administrators and others.132.400Bond of property valuation administrator.132.410Office facilities for property valuation administrator -- Records -- Working hours.132.420Duties and powers of property valuation administrator.132.440Oath of taxpayer on listing property.132.450Assessment -- Special procedure and provision for assessing real property at agricultural or horticultural value -- Election by owner.132.452Declaring moratorium by government units.132.454Tax liability when real property taxed as agricultural or horticultural is converted to another use.132.460Property valuation administrator, or deputy, to attend hearing on appealed assessments -- Expenses.132.470Assessment of property of property valuation administrator and his deputies.132.480Monthly report of real estate conveyances by county clerk to property valuation administrator -- Compensation of clerk -- Inclusion of in-care-of address in records.132.485Motor vehicle registration as consent to assess -- Exceptions -- Assessment of vehicle twenty years old or older -- Ownership -- Assessment of vehicle purchased and registered in different years – Exemptions -- Criteria for adjustment of value. (Effective until January 1, 2028)132.4851Exemption for portion of motor vehicle property taxes computed on increase in value between 2021 and 2023 assessments -- Automatic refund of overpayment of taxes.132.486Assessment system for tangible personal property -- Administrative regulations -- Appeals -- Effect of appeal on payment of taxes.132.487Centralized ad valorem tax system for all motor vehicles -- General and compensating tax rates -- Access to records -- Property valuation administrator to assess motor vehicles.132.488Centralized ad valorem tax system for motorboats -- Access to records.132.510Fiduciary's report of personal property held.132.530Preparation of tax rolls.132.570Attempts to evade taxation -- Penalty.132.585State local finance officer to provide tax rate calculation assistance.132.590Compensation of administrator -- Salary schedule -- Salary adjustments -- Advancement in grade -- Biennial budget -- Allowances for deputies -- Payments by fiscal court.132.597Expense allowance for property valuation administrators who meet stipulated requirements -- Annual professional instruction.132.601Administrator's use of local funds accruing to office -- Bank account -- Expenditures -- Supervision.132.605Purchase of assessment supplies and equipment by county -- Purchase and loan by Department of Revenue-- Maintenance.132.610Verification of property valuation administrator's claim for services -- Affidavit.132.620Recovery of compensation or costs from property valuation administrator for unauthorized assessment or neglect of duty -- Procedure -- Appeal.132.645Payment of compensation to property valuation administrator.132.650Informality or irregularity does not vitiate assessment or tax bills -- Failure of property valuation administrator to call on taxpayer or perform duties on time does not make assessment void.132.660Emergency assessments.132.670Mapping of property -- Biennial review by Department of Revenue.132.672Mapping project account -- Transfer of funds.132.690Annual revaluation of real property -- Quadrennial examination of real property -- Methods of examination -- Emergency revaluation.132.720Definitions for KRS 132.260 and 132.751.132.730Mobile homes and recreational vehicles subject to ad valorem taxation -- Exception.132.751Classification of certain mobile or manufactured homes and certain recreational vehicles as real property.132.810Homestead exemption -- Application -- Qualification.132.815Monthly reports from certified electrical inspectors -- Use of information.132.820Assessment of unmined coal, oil, and gas reserves held separately from surface real property -- Exceptions -- Effect of appeal on payment of taxes.132.825Listing of property required.132.990Penalties.