{"data":{"id":"us-ky/krs-132.360","jurisdiction":"us-ky","citation":"KRS 132.360","heading":"Reopening and increase of assessment -- Notice -- Protest -- Certification.","body":"(1) Any assessment of tangible personal property listed with the property valuation\nadministrator or with the department as provided by KRS 132.220 may be reopened\nby the department within five (5) years after the due date of the return, unless the\nassessed value has been established by a court of competent jurisdiction. If upon\nreopening the assessment the department finds that the assessment was less than the\nfair cash value and should be increased, it shall provide notice to the taxpayer. If the\ntaxpayer disagrees with the increase in the assessment, the taxpayer may protest the\nnotice in accordance with KRS 131.110.\n(2) Upon the assessment becoming final, the department shall certify the amount due to\nthe taxpayer. The tax bill shall be handled and collected as an omitted tax bill, and\nthe additional tax shall be subject to the same penalties and interest as the tax on\nomitted property voluntarily listed.","path":["KRS Chapter 132"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=49165","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:23Z","sha256":"f2ef6e3eeb9ff664f99d5c8d584a3d727165d247c2a913383fc83d01761d2942","source_id":"us-ky","stale":false,"prev":"us-ky/krs-132.350","next":"us-ky/krs-132.365"},"notice":"GroundRules: Original legal text. Not legal advice."}