{"data":{"id":"us-ky/krs-136.1802","jurisdiction":"us-ky","citation":"KRS 136.1802","heading":"Watercraft assessment and taxation -- Allocation of tax receipts -- Value","body":"determination.\n(1) Notwithstanding KRS 132.486, the watercraft of any corporation operating within\nthis state, or partly within this state and partly within other states, shall  be assessed\nby the department as of January 1 each year.\n(2) The department shall have the sole power to value and assess all of the corporation's\nwatercraft.\n(3) The department shall bill and collect all ad valorem taxes on watercraft and shall\ndivide, allocate, and distribute the tax receipts as provided in KRS 136.1804 to each\nlocal taxing district within this state.\n(4) The value of the corporation's watercraft shall be apportioned to this state by\nmultiplying the assessed value by a fraction, the numerator of which shall include:\n(a) Ninety percent (90%) of the length of the corporation's Ohio River route that\nborders Kentucky;\n(b) Fifty percent (50%) of the length of the Mississippi River route that borders\nKentucky;\n(c) Fifty percent (50%) of the len gth of the Big Sandy River route that borders\nKentucky; and\n(d) One hundred percent (100%) of the length of all other navigable waterways\nwithin Kentucky;\nand the denominator of which shall include the length of all waterway routes\ntraveled in all states by the corporation during the previous calendar year.","path":["KRS Chapter 136"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=28519","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:27Z","sha256":"6c1689e65b7855c163ed18bbb615bbe5729de105cc75064abf6c83386d1f9f53","source_id":"us-ky","stale":false,"prev":"us-ky/krs-136.1801","next":"us-ky/krs-136.1803"},"notice":"GroundRules: Original legal text. Not legal advice."}