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132.024 Limits for certain districts on personal property tax rate.

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132.024 Limits for certain districts on personal property tax rate. (1) In the event that the tax rate applicable to real property levied by a taxing district, other than the state, counties, school districts, cities, and urban-county governments, <br>will produce a percentage increase in revenue from personal property less than the <br>percentage increase in revenue from real property, the taxing district, other than the <br>state, counties, school districts, cities, and urban-county governments, may levy a <br>tax rate applicable to personal property which will produce the same percentage <br>increase in revenue from personal property as the percentage increase in revenue <br>from real property. (2) The tax rate applicable to personal property levied by a taxing district, other than the state, counties, school districts, cities, and urban-county governments, under the <br>provisions of subsection (1) of this section shall not be subject to the public hearing <br>provisions of KRS 132.023(2) and to the recall provisions of KRS 132.023(3). Effective: July 13, 1990 <br>History: Amended 1990 Ky. Acts ch. 343, secs. 6 and 11, effective July 13, 1990; and ch. 476, Pt. V, sec. 312, effective July 13, 1990. -- Created 1982 Ky. Acts ch. 397, <br>sec. 3, effective July 15, 1982. Legislative Research Commission Note. (7/13/90) The Act amending this section prevails over the repeal and reenactment in House Bill 940, Acts Ch. 476, pursuant to <br>Section 653(1) of Acts Ch. 476.