{"data":{"id":"us-ky/krs-132.018","jurisdiction":"us-ky","citation":"KRS 132.018","heading":"Reduction of tax rate on personal property.","body":"(1) If the tax rate applicable to real property levied by a county fiscal court, district\nboard of education, or legislative body of a city, consolidated local government,\nurban-county government, or other taxing district is reduced as a result of\nreconsideration by the county fiscal court, district board of education, or legislative\nbody of a city, consolidated local government, urban -county government, or other\ntaxing district under the provisions of KRS 132.017(2)(j), the tax rate applicable to\npersonal prop erty levied under the provisions of KRS 68.248(1), 132.024(1),\n132.029(1), and 160.473(1) shall be reduced by the respective county fiscal court,\ndistrict board of education, or legislative body of a city, consolidated local\ngovernment, urban-county government, or other taxing district to an amount which\nwill produce the same percentage increase in revenue from personal property as the\npercentage increase in revenue from real property resulting from the reduced tax\nrate applicable to real property.\n(2) If t he tax rate applicable to real property levied by a county fiscal court, district\nboard of education, or legislative body of a city, consolidated local government,\nurban-county government, or other taxing district is reduced, under the provisions\nof KRS 13 2.017(3), as a result of a majority of votes cast in an election being\nopposed to such a rate, the tax rate applicable to personal property levied by the\nrespective county fiscal court, district board of education, or legislative body of a\ncity, consolidat ed local government, urban -county government, or other taxing\ndistrict shall be reduced, without further action by the levying body, to an amount\nwhich will produce the same percentage increase in revenue from personal property\nas the percentage increase i n revenue from real property resulting from the reduced\ntax rate applicable to real property.","path":["KRS Chapter 132"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48794","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:23Z","sha256":"22cc98f67c2d6b881bf6182ef1b62fd5c252efd9fbdee01c8975c3c306bc7990","source_id":"us-ky","stale":false,"prev":"us-ky/krs-132.017","next":"us-ky/krs-132.020"},"notice":"GroundRules: Original legal text. Not legal advice."}