With the exception that the taxable situs of motor vehicles is governed by KRS § 132.227, all real and personal property within any city, and all personal property, except such tangible personal property as has an actual and bona fide situs without the city, of persons domiciled or actually residing in the city on the assessment date, and of all corporations having their chief office or place of business in the city on that date, and all franchises of same, shall be subject to assessment and taxation for city purposes, unless exempt from taxation by the Constitution or statutes of this state. Any franchise granted in whole or in part by a city, and exercised within the city, may be taxed by the city notwithstanding the corporation owning or exercising the same may have its chief office or place of business elsewhere. Any corporation doing business in a city, whether its franchise was granted by such city or not, may be required to pay a license tax.
Effective: January 1, 2015

Terms Used In Kentucky Statutes 92.290

  • City: includes town. See Kentucky Statutes 446.010
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • 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

History: Amended 2014 Ky. Acts ch. 92, sec. 97, effective January 1, 2015. — Amended 1984 Ky. Acts ch. 54, sec. 12, effective January 1, 1985. — Recodified
1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942 from Ky. Stat. secs. 3374,
3654, 3673.

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