KRS 160.473: Limits for board of education tax rates on personal property -- Public

hearing and recall not applicable.

(1) (a) For assessment years beginning before January 1, 2029, in the event that a

general tax rate applicable to real property levied b y a local board of

education will produce a percentage increase in revenue from personal

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

local board of education may levy a general tax rate applicable to personal

property whic h will produce the same percentage increase in revenue from

personal property as the percentage increase in revenue from real property;

however, in no event shall the general tax rate levied by the local board of

education applicable to personal property e xceed the prior year general tax

rate applicable to personal property levied by the respective local board of

education.

(b) For assessment years beginning on or after January 1, 2029, in the event that a

general tax rate applicable to real property levied by a local board of

education will produce a percentage increase in revenue from personal

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

local board of education may levy a general tax rate applicable to personal

property wh ich will produce the same percentage increase in revenue from

personal property as the percentage increase in revenue from real property;

however, in no event shall the general tax rate levied by the local board of

education applicable to personal property exceed:

1. The prior year general tax rate applicable to personal property levied by

the respective local board of education; or

2. The general tax rate applicable to personal property levied by the

respective local board of education for the January 1, 2 028, assessment

year.

(2) The general tax rate applicable to personal property levied by a local board of

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

to the public hearing provisions of KRS 160.470(7) and to the re call provisions of

KRS 160.470(8).