(1) In the event that the tax rate applicable to real property levied by a city or urban- county government will produce a percentage increase in revenue from personal property less than the percentage increase in revenue from real property, the city or urban-county government may levy a tax rate applicable to personal property which will produce the same percentage increase in revenue from personal property as the percentage increase in revenue from real property.
(2) The tax rate applicable to personal property levied by a city or urban-county government under the provisions of subsection (1) of this section shall not be subject to the public hearing provisions of KRS § 132.027(2) and to the recall provisions of KRS § 132.027(3).

Terms Used In Kentucky Statutes 132.029

  • City: includes town. See Kentucky Statutes 446.010
  • County: means any county, consolidated local government, urban-county government, unified local government, or charter county government. See Kentucky Statutes 132.010
  • 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

Effective: July 13, 1990
History: Amended 1990 Ky. Acts ch. 343, sec. 8, effective July 13, 1990. — Created
1982 Ky. Acts ch. 397, sec. 5, effective July 15, 1982.

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