Kentucky Statutes 132.025 – Cumulative increase for 1982-83 only by taxing district — Limit — Public hearing and recall provisions not applicable
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(1) In the event that the tax rate levied by an action of a taxing district, other than the state, counties, school districts, cities, and urban-county governments, for 1979-80,
1980-81, or 1981-82 produced a percentage increase in revenue from personal property less than the percentage increase in revenue from real property for the respective year, the taxing district, other than the state, counties, school districts, cities, and urban-county governments, may levy a tax rate applicable to personal property for 1982-83 only, which will produce the same cumulative percentage increase in revenue from personal property as was produced from real property in
1979-80, 1980-81 and 1981-82. Such a tax rate may be in addition to the tax rate levied under the provisions of KRS § 132.024.
(2) The tax rate levied under the provision of KRS § 132.024 and subsection (1) of this section shall not exceed the tax rate applicable to personal property levied by the respective taxing district, other than the state, counties, school districts, cities, and urban-county governments, in 1981-82.
(3) The tax rate applicable to personal property levied by a taxing district, other than the state, counties, school districts, cities, and urban-county governments shall not be subject to the public hearing provisions of KRS § 132.023(2) and to the recall provisions of KRS § 132.023(3).
Effective: January 1, 2021
History: Amended 2020 Ky. Acts ch. 90, sec. 3, effective January 1, 2021. — Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 313, effective July 13, 1990. — Created 1982 Ky. Acts ch. 397, sec. 4, effective July 15, 1982.
Legislative Research Commission Note. (7/13/90) Pursuant to Section 653(2) of 1990
House Bill 940, Acts Ch. 476, the repeal and reenactment of this section in that Act prevails over its repeal in another Act (ch. 343, § 10) of the 1990 Regular Session.
1980-81, or 1981-82 produced a percentage increase in revenue from personal property less than the percentage increase in revenue from real property for the respective year, the taxing district, other than the state, counties, school districts, cities, and urban-county governments, may levy a tax rate applicable to personal property for 1982-83 only, which will produce the same cumulative percentage increase in revenue from personal property as was produced from real property in
Terms Used In Kentucky Statutes 132.025
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Personal property: All property that is not real property.
- Personal property: includes every species and character of property, tangible and intangible, other than real property. See Kentucky Statutes 132.010
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Real property: includes all lands within this state and improvements thereon. See Kentucky Statutes 132.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Taxing district: means any entity with the authority to levy a local ad valorem tax, including special purpose governmental entities. See Kentucky Statutes 132.010
- Year: means calendar year. See Kentucky Statutes 446.010
1979-80, 1980-81 and 1981-82. Such a tax rate may be in addition to the tax rate levied under the provisions of KRS § 132.024.
(2) The tax rate levied under the provision of KRS § 132.024 and subsection (1) of this section shall not exceed the tax rate applicable to personal property levied by the respective taxing district, other than the state, counties, school districts, cities, and urban-county governments, in 1981-82.
(3) The tax rate applicable to personal property levied by a taxing district, other than the state, counties, school districts, cities, and urban-county governments shall not be subject to the public hearing provisions of KRS § 132.023(2) and to the recall provisions of KRS § 132.023(3).
Effective: January 1, 2021
History: Amended 2020 Ky. Acts ch. 90, sec. 3, effective January 1, 2021. — Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 313, effective July 13, 1990. — Created 1982 Ky. Acts ch. 397, sec. 4, effective July 15, 1982.
Legislative Research Commission Note. (7/13/90) Pursuant to Section 653(2) of 1990
House Bill 940, Acts Ch. 476, the repeal and reenactment of this section in that Act prevails over its repeal in another Act (ch. 343, § 10) of the 1990 Regular Session.