In lieu of taxes, the board may each year pay to each school district and municipality in which its property is located an amount equivalent to an annual ad valorem tax on the fair cash value of the property of the board located in each such jurisdiction, determined upon the tax rate prevailing in such year.
Effective: July 13, 1990
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Terms Used In Kentucky Statutes 96.179

  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Year: means calendar year. See Kentucky Statutes 446.010

History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 300, effective July
13, 1990. — Created 1946 Ky. Acts ch. 212, sec. 11.

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