{"data":{"id":"us-ky/krs-140.320","jurisdiction":"us-ky","citation":"KRS 140.320","heading":"Taxation of land converted from agricultural use.","body":"If, within five (5) years after the death of the decedent, a qualified person sells, conveys,\nor otherwise transfers the ownership, directly or indirectly, of the qualified real estate to\nany person or persons other than another qualified person who is a j oint owner or the\nqualified real estate is converted to a use other than agricultural or horticultural use, then\nthe qualified persons to whom the property passed at the death of the decedent in whose\nestate the agricultural or horticultural value was repo rted shall cause to be paid, pursuant\nto administrative regulations promulgated by the Department of Revenue, the additional\ninheritance tax that would have been due on the decedent's estate if fair market value had\nbeen used to compute the tax due on the estate rather than the agricultural or horticultural\nvalue, along with interest at the tax interest rate as defined in KRS 131.010(6).","path":["KRS Chapter 140"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29017","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:33Z","sha256":"1cb54292d53e223ea543902b4bf5a6e38fcea1b78e3fb317fcdcd4c2d200ffbf","source_id":"us-ky","stale":false,"prev":"us-ky/krs-140.310","next":"us-ky/krs-140.330"},"notice":"GroundRules: Original legal text. Not legal advice."}