KRS 381.9109: Separate assessments, titles, and taxation.

(1) If there is any unit owner other than a declarant, each unit that has been created,

together with its interest in the common elements, constitutes for all purposes a

separate parcel of real estate.

(2) If there is any unit owner other than a declarant, eac h unit shall be separately taxed

and assessed, and no separate tax or assessment may be rendered against any

common elements for which a declarant has reserved no development rights.

(3) Any portion of the common elements for which the declarant has reserv ed any

development right shall be separately taxed and assessed against the declarant, and

the declarant alone is liable for payment of those taxes.

(4) If there is no unit owner other than a declarant, the real estate comprising the

condominium may be taxed and assessed in any manner provided by law.

(5) A residential unit of a condominium may be a homestead as allowed in KRS

Chapters 132 and 427.