KRS 140.320: Taxation of land converted from agricultural use.

If, within five (5) years after the death of the decedent, a qualified person sells, conveys,

or otherwise transfers the ownership, directly or indirectly, of the qualified real estate to

any person or persons other than another qualified person who is a j oint owner or the

qualified real estate is converted to a use other than agricultural or horticultural use, then

the qualified persons to whom the property passed at the death of the decedent in whose

estate the agricultural or horticultural value was repo rted shall cause to be paid, pursuant

to administrative regulations promulgated by the Department of Revenue, the additional

inheritance tax that would have been due on the decedent's estate if fair market value had

been used to compute the tax due on the estate rather than the agricultural or horticultural

value, along with interest at the tax interest rate as defined in KRS 131.010(6).