| Last Action | to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to property tax. |
| Bill Documents |
Bill
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| Impact Statements |
Fiscal Note
Local Mandate |
| Bill Request Number | 1901 |
| Sponsor | B. Farmer |
| Summary of Original Version | Amend KRS 132.020 to lower the state property tax rate from 5 cents per $100 of value to 1/10 of one cent per $100 value on goods held for sale in the regular course of business including machinery and equipment held in a retailer's inventory for sale or lease originating under a floor plan financing arrangement, raw materials, and in-process materials held for incorporation in finished goods held for sale in the regular course of business; amend KRS 132.200 to exempt same property from local taxation; EFFECTIVE for property assessed on or after January 1, 2012. |
| Index Headings of Original Version |
Taxation - Local property tax, goods held for sale, exemption Taxation - Property tax, goods held for sale, state rate reduction Taxation, Property - Goods held for sale, local tax exemption Taxation, Property - Goods held for sale, state rate reduction Local Mandate - Goods held for sale, local tax exemption Fiscal Note - Goods held for sale, local tax exemption |
| 02/23/12 |
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|---|---|
| 02/27/12 |
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Last updated: 8/27/2019 8:05 PM (EDT)