Kentucky Statutes 146.500 – Tax assessments
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Where an interest in real property less than fee simple is dedicated for the purposes of KRS § 146.410 to KRS § 146.530, assessments made on the property for taxation shall reflect any change in the market value of the property which may result from the interest so dedicated. The value of the interest so dedicated shall be exempt from property taxation.
History: Created 1976 Ky. Acts ch. 118, sec. 19.
History: Created 1976 Ky. Acts ch. 118, sec. 19.
Terms Used In Kentucky Statutes 146.500
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.