KRS 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

property less than the percentage increase in revenue from real property, the city or

urban-county government may levy a tax rate applicable to personal property which

will produce the same percentage increase in revenue from personal property as the

percentage increase in revenue from real property.

(2) The tax rate applicable to personal pro perty levied by a city or urban -county

government under the provisions of subsection (1) of this section shall not be

subject to the public hearing provisions of KRS 132.027(2) and to the recall

provisions of KRS 132.027(3).