{"data":{"id":"us-ky/krs-132.096","jurisdiction":"us-ky","citation":"KRS 132.096","heading":"Exemption from state and local ad valorem tax of various classes of","body":"property.      (Effective until January 1, 2028)\nThe following classes of property shall be exempt from state and local ad valorem taxes,\nincluding the county, city, school, and other taxing district in which it has a taxable situs:\n(1) Farm implements and farm machinery owned by or leased to a person actually\nengaged in farming and used in his or her farm operations;\n(2) Livestock, ratite birds, and domestic fowl;\n(3) Tangible personal property located in a foreign trade zone established pursuant to\n19 U.S.C. secs. 81a to 81u, provided that the zone is activated in accordance with\nthe regulations of the United States Customs Service and the Foreign Trade Zones\nBoard;\n(4) Property that is certified as an alcohol production facility as defined in KRS\n247.910;\n(5) Computer software, except prewritten computer software as defined in KRS\n139.010;\n(6) Trucks, tractors, and buses used on routes or in systems that are partly within and\npartly outside this state, and that are subject to the fee imposed by KRS 136.188;\n(7) Semitrailers and trailers, as defined in KRS 189.010, if the semitrailers or trailers\nare used on a route or in a system that is partly within and partly outside this state .\nSemitrailers or trailers required to be registered under KRS 186.655 that are used\nonly in this state shall be subject to the ad valorem tax imposed by KRS 132.487;\n(8) All intangible personal property, except intangible personal property assessed under\nKRS 132.030 or KRS Chapter 136. Nothing in this subsection shall prohibit local\ntaxation of franchises of:\n(a) Corporations;\n(b) Financial institutions as provided in KRS 136.575; or\n(c) Domestic life insurance companies;\n(9) All real and personal property owned by another state or a political subdivision of\nanother state that is used exclusively for public purposes, if a comparable\nexemption is provided in that state or political subdivision for property owned by\nthe Commonwealth of Kentucky or its political subdivisions;\n(10) Every fraternal benefit society organized or licensed under Subtitle 29 of KRS\nChapter 304 that is a charitable and benevolent institution, and its funds shall be\nexempt from all state, county, district, city, and school taxes, other than taxes on\nreal property and office equipment; and\n(11) (a) Any bridge built by an adjoining state, by the government of the United\nStates, or by any commission created by an Act of Congress, over a boundary\nline stream between this state and an adjoining state, which is:\n1. Not operated for profit and, if it connects with a primary highway of this\nstate, is declared to be public property used for public purposes; and\n2. Exempt from taxation unless the adjoining state, or ot her public body\nconstructing the bridge, taxes similar bridges built by this\nCommonwealth in like manner.\n(b) The issuance of bonds for the purpose of amortizing the cost of construction\nof the bridges, as described in paragraph (a) of this subsection, sha ll not affect\nthe tax exemption granted.\nEffective: July 15, 2026","path":["KRS Chapter 132"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57937","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:23Z","sha256":"c1a03a8167ac1603be806ec0b65c18074ef54f45ffda68c3a0a4e1c87c9581c9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-132.095","next":"us-ky/krs-132.097"},"notice":"GroundRules: Original legal text. Not legal advice."}