KRS 132.025: Cumulative increase for 1982 -83 only by taxing district -- Limit -- Public

hearing and recall provisions not applicable.

(1) In the event that the tax rate levied by an action of a taxing district, other than the

state, counties, school distr icts, cities, and urban -county governments, for 1979 -80,

1980-81, or 1981 -82 produced a percentage increase in revenue from personal

property less than the percentage increase in revenue from real property for the

respective year, the taxing district, othe r than the state, counties, school districts,

cities, and urban -county governments, may levy a tax rate applicable to personal

property for 1982 -83 only, which will produce the same cumulative percentage

increase in revenue from personal property as was pr oduced from real property in

1979-80, 1980-81 and 1981 -82. Such a tax rate may be in addition to the tax rate

levied under the provisions of KRS 132.024.

(2) The tax rate levied under the provision of KRS 132.024 and subsection (1) of this

section shall no t exceed the tax rate applicable to personal property levied by the

respective taxing district, other than the state, counties, school districts, cities, and

urban-county governments, in 1981-82.

(3) The tax rate applicable to personal property levied by a taxing district, other than

the state, counties, school districts, cities, and urban -county governments shall not

be subject to the public hearing provisions of KRS 132.023(2) and to the recall

provisions of KRS 132.023(3).