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2021 Kentucky Revised Statutes
Chapter 132 - Levy and assessment of property taxes
132.028 Rate on business inventories levied by a city or urban-county government -- Exception.

Universal Citation:
KY Rev Stat § 132.028 (2021)
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132.028 Rate on business inventories levied by a city or urban-county government - Exception. (1) (2) Subject to the provisions of KRS 132.027, a city or urban-county government may levy a rate on business inventories equal to or less than the prevailing rate of taxation on other tangible personal property in the respective city or urban-county government. The tangible personal property tax shall not be levied upon: (a) The inventories of licensed motor vehicle dealers, including licensed motor vehicle auction dealers; or (b) Motor vehicles that are in the possession of a licensed motor vehicle dealer, including licensed motor vehicle auction dealers, for sale, although ownership has not been transferred to the dealer. Effective: June 25, 2013 History: Amended 2013 Ky. Acts ch. 94, sec. 2, effective June 25, 2013. -- Amended 1990 Ky. Acts ch. 106, sec. 1, effective July 13, 1990. -- Created 1980 Ky. Acts ch. 319, sec. 11, effective July 15, 1980.
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