(1) A veteran service organization may qualify as an institution of purely public charity, as expressed in Section 170 of the Kentucky Constitution, if over fifty percent (50%) of its annual net income is expended on behalf of military veterans and other charitable causes.
(2) If a veteran service organization meets the qualifications in subsection (1) of this section, its property assessed on January 1, 2022, shall not be subject to ad valorem taxation from the state, county, city, school, or other taxing district in which it has a taxable situs. This subsection does not apply to real property which is owned by the veteran service organization and occupied by another entity or person for compensation.

Terms Used In Kentucky Statutes 132.212

  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • 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
  • 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

Effective: June 29, 2021
History: Created 2021 Ky. Acts ch. 156, sec. 33, effective June 29, 2021.

  Previous section
Next section  
 Chapter 132 Contents