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132.190 Property subject to taxation -- Situs.

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132.190 Property subject to taxation -- Situs. (1) All property shall be subject to taxation, unless it is exempted by the Constitution or in the case of personal property unless it is exempted by the Constitution or by <br>statute. Twenty-five (25) domestic fowl to each family shall be exempt from <br>taxation for any purpose. (2) All intangible personal property of corporations organized under the laws of this state, unless it has acquired a business situs without this state, shall be considered <br>and estimated in fixing the valuation of corporate franchises. (3) Property shall be assessed for taxation at its fair cash value, estimated at the price it would bring at a fair voluntary sale, except: real property qualifying for an <br>assessment moratorium shall not have its fair cash value assessment changed while <br>under the assessment moratorium unless the assessment moratorium expires or is <br>otherwise canceled or revoked. (4) Nothing contained in this section shall affect the liability for franchise taxes payable by corporations organized under the laws of this state; nor the method of taxation of <br>financial institutions provided in KRS 136.505; nor the method of taxation of <br>savings and loan associations provided in KRS 136.300. Effective: January 1, 2006 <br>History: Amended 2005 Ky. Acts ch. 168, sec. 56, effective January 1, 2006. -- Amended 2000 Ky. Acts ch. 274, sec. 1, effective July 14, 2000. -- Amended 1996 <br>Ky. Acts ch. 254, sec. 25, effective July 15, 1996. -- Repealed and reenacted 1990 <br>Ky. Acts ch. 476, Pt. V, sec. 320, effective July 13, 1990. --Amended 1982 Ky. Acts <br>ch. 141, sec. 58, effective July 1, 1982; and ch. 327, sec. 6, effective July 15, 1982. -- <br>Amended 1966 Ky. Acts ch. 255, sec. 127. -- Amended 1960 Ky. Acts ch. 186, <br>Art. I, sec. 3. -- Amended 1948 Ky. Acts ch. 33, sec. 1. -- Recodified 1942 Ky. Acts <br>ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4019a-5, 4020, 4020a-<br>1, 4023. Note: 1980 Ky. Acts ch. 396, sec. 63 would have amended this section effective July 1, 1982. However, 1980 Ky. Acts ch. 396 was repealed by 1982 Ky. Acts ch. 141, <br>sec. 146, also effective July 1, 1982.