24RS HB 590

Actions

Last Action	02/20/24: to Committee on Committees (H)
Title	AN ACT relating to the valuation of motor vehicles for property tax purposes and declaring an emergency.
Bill Documents	Introduced
Fiscal Impact Statement	Local Mandate
Bill Request Number	1927
Sponsor	M. Dossett
Summary of Original Version	Amend KRS 132.4851 to exempt a portion of the property taxes assessed on motor vehicles for the January 1, 2024, and January 1, 2025, assessment dates; mandate that the Department of Revenue and county clerks work together to establish procedures for refunds; RETROACTIVE; EMERGENCY.
Index Headings of Original Version	Local Mandate - Property tax, motor vehicle valuation, exemption County Clerks - Motor vehicle valuation, property tax exemption, refunds Effective Dates, Emergency - Motor vehicle valuation, property tax exemption, refunds Motor Vehicles - Assessed valuation, property tax exemption, refunds Property Valuation Administrators - Motor vehicle valuation, property tax exemption, refunds State Agencies - Department of Revenue, motor vehicle valuation, property tax exemption, refunds Taxation, Property - Motor vehicle valuation, exemption Retroactive Legislation - Motor vehicle property tax exemption, January 1, 2024 Taxation - Property tax, motor vehicle valuation, exemption