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67A.887 Annual levy of assessment against benefited property.
The sum necessary to be raised annually for the sinking fund and consequent
amortization of the outstanding bonds, whether all authorized bonds have been
issued or not (together with the sum of any amounts required annually to pay
trustees' fees, paying agents' fees, cost of administration of the project, and the cost
of billing, collecting and enforcing improvement benefit assessments, including fees
of proper governmental bodies incident to placing assessment bills on tax
statements, and collecting, enforcing and remitting same), shall be levied and
assessed from time to time against the benefited properties pursuant to the prior
determinations made by the government in respect of benefits received. If the
urban-county council of the government has determined that all benefited properties
within classified zones are substantially equally benefited and that all therein shall be
assessed equally, the same assessment levy shall be made against each benefited
property within a classified zone. In other cases, if any, the sum necessary to be
raised annually for amortization of the bonds shall be levied and assessed against
the benefited properties in the proportion that the assessed value of each individual
lot, parcel or tract for urban-county government ad valorem taxation shall bear to the
whole assessed value of all the benefited properties as shown by the records upon
which urban-county government ad valorem taxation may from time to time be
based. Where there is no such record, as in the case of public property or property
owned by religious, charitable or educational institutions, the same (except that
owned by the United States government) shall be specially assessed by the proper
assessing officers and for such special assessment reasonable compensation shall
be paid. Any such special assessment shall be subject to all procedures for
equalization and judicial review as may be provided by law in connection with
ordinary assessments.
Effective:March 30, 1976
History: Created 1976 Ky. Acts ch. 371, sec. 17, effective March 30, 1976.
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