Kentucky Statutes 149.550 – County assessment rate — Owners’ duties
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(1) If the county governing body requires the owners to participate, it shall determine the amount of the assessment for each acre, and shall order the assessment to be paid into the county treasury by the owners of all timberland located in the county.
(2) It shall be the duty of each owner of timberland situated in the county to list or have listed such property with the property valuation administrator within the time provided for assessing property for state and county ad valorem taxes.
(3) Timberland shall be listed by the owner of the first freehold estate therein, and it shall be listed without reference to conflicting title. The listing shall be made at the same time and in the same manner in which declarations of real property owned are made with the property valuation administrator for assessment purposes. If the owner fails to list the timberland, the property valuation administrator shall list it. The property valuation administrator shall have the power to swear witnesses in order to ascertain the person in whose name to make the list.
(4) All persons in whose name the timberland acreage is properly listed shall remain bound for the assessment, notwithstanding they may have sold or parted with it.
History: Amended 1974 Ky. Acts ch. 308, sec. 31. — Created 1958 Ky. Acts ch. 139, sec. 5, effective June 19, 1958.
(2) It shall be the duty of each owner of timberland situated in the county to list or have listed such property with the property valuation administrator within the time provided for assessing property for state and county ad valorem taxes.
Terms Used In Kentucky Statutes 149.550
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(3) Timberland shall be listed by the owner of the first freehold estate therein, and it shall be listed without reference to conflicting title. The listing shall be made at the same time and in the same manner in which declarations of real property owned are made with the property valuation administrator for assessment purposes. If the owner fails to list the timberland, the property valuation administrator shall list it. The property valuation administrator shall have the power to swear witnesses in order to ascertain the person in whose name to make the list.
(4) All persons in whose name the timberland acreage is properly listed shall remain bound for the assessment, notwithstanding they may have sold or parted with it.
History: Amended 1974 Ky. Acts ch. 308, sec. 31. — Created 1958 Ky. Acts ch. 139, sec. 5, effective June 19, 1958.