132.454 Tax liability when real property taxed as agricultural or horticultural is converted to another use.
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<![CDATA[132.454 Tax liability when real property taxed as agricultural or horticultural is converted to another use. When land which is valued and taxed as agricultural or horticultural land under paragraph <br>(c) of subsection (2) of KRS 132.450 is converted to any other use after January 1 of the <br>tax year, that portion of the land upon which the use is changed shall be subject to tax for <br>the succeeding tax year at its fair cash value. The owner of the property at the time the <br>land use change is initiated shall, within ninety (90) days, report the change to the <br>property valuation administrator. The owner shall also provide to the property valuation <br>administrator information concerning the most recent sale or lease of the property, copies <br>of any appraisal or feasibility reports made, and any other information useful in <br>determining the fair cash value of the property. Effective: July 15, 1994 <br>History: Amended 1994 Ky. Acts ch. 60, sec. 1, effective July 15, 1994. </p>
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