Statutes > Kentucky Statutes > CHAPTER 132 LEVY AND ASSESSMENT OF PROPERTY TAXES > 132.029 Limits for city and urban-county government on personal property tax rate.

132.029 Limits for city and urban-county government on personal property tax rate.

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132.029 Limits for city and urban-county government on personal property tax rate. (1) In the event that the tax rate applicable to real property levied by a city or urban-county government will produce a percentage increase in revenue from personal <br>property less than the percentage increase in revenue from real property, the city or <br>urban-county government may levy a tax rate applicable to personal property which <br>will produce the same percentage increase in revenue from personal property as the <br>percentage increase in revenue from real property. (2) The tax rate applicable to personal property levied by a city or urban-county government under the provisions of subsection (1) of this section shall not be <br>subject to the public hearing provisions of KRS 132.027(2) and to the recall <br>provisions of KRS 132.027(3). Effective: July 13, 1990 <br>History: Amended 1990 Ky. Acts ch. 343, sec. 8, effective July 13, 1990. -- Created 1982 Ky. Acts ch. 397, sec. 5, effective July 15, 1982.