2014 Kentucky Revised Statutes CHAPTER 136 - CORPORATION AND UTILITY TAXES 136.180 Notice and certification of valuation -- Effect of appeal on payment of taxes -- Payment of fee by any district which has value certified by department.
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136.180 Notice and certification of valuation -- Effect of appeal on payment of
taxes -- Payment of fee by any district which has value certified by
department.
(1)
(2)
(3)
(4)
(5)
(6)
The Department of Revenue shall, immediately after fixing the assessed value
of the operating property and other property of a public service corporation for
taxation, notify the corporation of the valuation and the amount of assessment
for state and local purposes. When the valuation has been finally determined,
the department shall immediately certify, unless otherwise specified, to the
county clerk of each county in which any of the operating property or
nonoperating tangible property assessment of the corporation is liable to local
taxation, the amount of property liable for county, city, or district tax.
No appeal shall delay the collection or payment of taxes based upon the
assessment in controversy. The taxpayer shall pay all state, county, and district
taxes due on the valuation which the taxpayer claims as the true value as
stated in the protest filed under KRS 131.110. When the valuation is finally
determined upon appeal, the taxpayer shall be billed for any additional tax and
interest at the tax interest rate as defined in KRS 131.010(6), from the date the
tax would have become due if no appeal had been taken. The provisions of
KRS 134.015(6) shall apply to the tax bill.
The Department of Revenue shall compute annually a multiplier for use in
establishing the local tax rate for the operating property of railroads or railway
companies that operate solely within the Commonwealth. The applicable local
tax rates on the operating property shall be adjusted by the multiplier. The
multiplier shall be calculated by dividing the statewide locally taxable business
tangible personal property by the total statewide business tangible personal
property.
The Department of Revenue shall annually calculate an aggregate local rate
for each local taxing district to be used in determining local taxes to be
collected for railroad carlines. The rate shall be the statewide tangible tax rate
for each type of local taxing district multiplied by a fraction, the numerator of
which is the commercial and industrial tangible property assessment subject to
full local rates and the denominator of which is the total commercial and
industrial tangible personal property assessment. Effective January 1, 1994,
state and local taxes on railroad carline property shall become due forty-five
(45) days from the date of notice and shall be collected directly by the
Department of Revenue. The local taxes collected by the Department of
Revenue shall be distributed to each local taxing district levying a tax on
railroad carlines based on the statewide average rate for each type of local
taxing district. However, prior to distribution any fees owed to the Department
of Revenue by any local taxing district under the provisions of subsection (6) of
this section shall be deducted.
The Department of Revenue shall bill, collect, and distribute all state and local
property taxes for common carrier water transportation companies. Any fees
owed to the Department of Revenue by any local taxing district shall be
deducted before any distribution is made to any local taxing district under the
provisions of this subsection.
The certification of valuation shall be filed by each county clerk in his office,
and shall be certified by the county clerk to the proper collecting officer of the
county, city, or taxing district for collection. Any district which has the value
certified by the department shall pay an annual fee to the department which
represents an allocation of department operating and overhead expenses
incurred in generating the valuations. This fee shall be determined by the
department and shall apply to valuations for tax periods beginning on or after
December 31, 1981.
Effective:January 1, 2010
History: Amended 2009 Ky. Acts ch. 10, sec. 47, effective January 1, 2010. -Amended 2005 Ky. Acts ch. 85, sec. 308, effective June 20, 2005; and ch. 106,
sec. 1, effective June 20, 2005. -- Amended 1998 Ky. Acts ch. 391, sec. 5,
effective July 15, 1998. -- Amended 1994 Ky. Acts ch. 64, sec. 1, effective July
15, 1994. -- Amended 1990 Ky. Acts ch. 345, sec. 2, effective July 13, 1990;
ch. 437, sec. 7, effective July 13, 1990; and ch. 476, Pt. V, sec. 353, effective
July 13, 1990. -- Amended 1982 Ky. Acts ch. 388, sec. 6, effective July 15,
1982. -- Amended 1960 Ky. Acts ch. 186, Art. II, sec. 7, effective March 25,
1960. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942,
from Ky. Stat. secs. 4083, 4084, 4102.
Legislative Research Commission Note (8/17/2006). In the final sentence of
subsection (4) of this statute, a reference to "subsection (4) of this section" has
been changed to read "subsection (6) of this section." Under the authority of
KRS 7.136(1)(e) and (h), the Reviser of Statutes has made this change to
correct an internal reference that should have been adjusted when subsections
were renumbered in 1998 Ky. Acts ch. 391, sec. 5, and 2005 Ky. Acts ch. 106,
sec. 1.
Legislative Research Commission Note (6/20/2005). 2005 Ky. Acts chs. 11, 85,
95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory
references to agencies and officers whose names have been changed in 2005
legislation confirming the reorganization of the executive branch. Such a
correction has been made in this section.
Legislative Research Commission Note (11/1/90). The two Acts amending this
section prevail over the repeal and reenactment in House Bill 940, Acts Ch. 476,
pursuant to Section 653(1) of Acts Ch. 476. The two amending Acts do not
appear to be in conflict and have been compiled together. Under the authority of
KRS 7.136(1), the Reviser of Statutes has divided the text of this section into the
indicated subdivisions. The original 1990 codification of KRS 136.180 and its
accompanying note dated July 13, 1990, are superseded and without effect.
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