{"data":{"id":"us-ky/krs-132.028","jurisdiction":"us-ky","citation":"KRS 132.028","heading":"Rate on business inventories levied by a city or urban-county government -","body":"- Exception.\n(1) Subject to the provisions of KRS 132.027, a city or urban -county government may\nlevy a rate on business inventories equal to or less than the prevailing rate of\ntaxation on other tangible personal property in the respective city or urban -county\ngovernment.\n(2) The tangible personal property tax shall not be levied upon:\n(a) The inventories of licensed motor vehicle dealers, including licensed motor\nvehicle auction dealers; or\n(b) Motor vehicles that are in the possession of a licensed motor vehicle dealer,\nincluding licensed motor vehicle auction dealers, for sale, although ownership\nhas not been transferred to the dealer.","path":["KRS Chapter 132"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=42353","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:23Z","sha256":"d52e038a9c4bafd292796ebe43fc1156976620d82a6061c349090ff9cc69ecd9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-132.027","next":"us-ky/krs-132.029"},"notice":"GroundRules: Original legal text. Not legal advice."}