Kentucky Statutes 56.080 – Appraisal and valuation of state property
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Before July 1 of each year, the cabinet shall reconsider its appraisal and valuation of public buildings and personal property belonging to or under the control and use of the state or any state agency, and shall certify any changes in value to the agency that has the custody or control of the property. The appraisal and valuation shall equal the amount that the cabinet deems necessary to replace the property at the time of the appraisal, which may be less actual depreciation.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 41, effective July 15, 2010. — Amended
1998 Ky. Acts ch. 483, sec. 33, effective July 15, 1998. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4636-22, 4636-23.
Effective: July 15, 2010
Terms Used In Kentucky Statutes 56.080
- Appraisal: A determination of property value.
- Cabinet: means the Finance and Administration Cabinet. See Kentucky Statutes 56.440
- Personal property: All property that is not real property.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- State agency: means any state administrative body, agency, department, or division as defined in KRS §. See Kentucky Statutes 56.440
- Year: means calendar year. See Kentucky Statutes 446.010
History: Amended 2010 Ky. Acts ch. 24, sec. 41, effective July 15, 2010. — Amended
1998 Ky. Acts ch. 483, sec. 33, effective July 15, 1998. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4636-22, 4636-23.