KRS 132.028: Rate on business inventories levied by a city or urban-county government -

- Exception.

(1) Subject to the provisions of KRS 132.027, a city or urban -county government may

levy a rate on business inventories equal to or less than the prevailing rate of

taxation on other tangible personal property in the respective city or urban -county

government.

(2) The tangible personal property tax shall not be levied upon:

(a) The inventories of licensed motor vehicle dealers, including licensed motor

vehicle auction dealers; or

(b) Motor vehicles that are in the possession of a licensed motor vehicle dealer,

including licensed motor vehicle auction dealers, for sale, although ownership

has not been transferred to the dealer.