{"data":{"id":"us-ky/krs-68.245","jurisdiction":"us-ky","citation":"KRS 68.245","heading":"Estimate of assessment -- Levy in excess of compensatory tax rate subject to","body":"recall vote or reconsideration.\n(1) The property valuation administrator shall submit an official estimate of real and\npersonal property and new property assessment as defined  in KRS 132.010, to the\ncounty judge/executive by April 1 of each year.\n(2) No county fiscal court shall levy a tax rate, excluding any special tax rate which\nmay be levied at the request of a county community improvement district pursuant\nto KRS 107.350 a nd 107.360, following a favorable vote upon such tax by the\nvoters of that county, which exceeds the compensating tax rate defined in KRS\n132.010, until the taxing district has complied with the provisions of subsection (5)\nof this section.\n(3) The state local finance officer shall certify to each county judge/executive, by June\n30 of each year, the following:\n(a) The compensating tax rate, as defined in KRS 132.010, and the amount of\nrevenue expected to be produced by it;\n(b) The tax rate which will produc e no more revenue from real property,\nexclusive of revenue from new property, than four percent (4%) over the\namount of revenue produced by the compensating tax rate defined in KRS\n132.010 and the amount of revenue expected to be produced by it.\n(4) Real and personal property assessment and new property determined in accordance\nwith KRS 132.010 shall be certified to the state local finance officer by the\nDepartment of Revenue upon completion of action on property assessment data.\n(5) (a) A county fiscal cou rt, proposing to levy a tax rate, excluding any special tax\nrate which may be levied at the request of a county community improvement\ndistrict pursuant to KRS 107.350 and 107.360, following a favorable vote\nupon the tax by the voters of that county, which exceeds the compensating tax\nrate defined in KRS 132.010, shall hold a public hearing to hear comments\nfrom the public regarding the proposed tax rate. The hearing shall be held in\nthe principal office of the taxing district, or, in the event the taxing di strict has\nno office, or the office is not suitable for a hearing, the hearing shall be held in\na suitable facility as near as possible to the geographic center of the district.\n(b) County fiscal courts of counties containing a city of the first class proposing to\nlevy a tax rate, excluding any special tax rate which may be levied at the\nrequest of a county community improvement district pursuant to KRS 107.350\nand 107.360, following a favorable vote upon the tax by the voters of that\ncounty, which exceeds the compensating tax rate defined in KRS 132.010,\nshall hold three (3) public hearings to hear comments from the public\nregarding the proposed tax rate. The hearings shall be held in three (3)\nseparate locations; each location shall be determined by dividi ng the county\ninto three (3) approximately equal geographic areas, and identifying a suitable\nfacility as near as possible to the geographic center of each area.\n(c) The county fiscal court shall advertise the hearing by causing to be published\nat least tw ice in two (2) consecutive weeks, in the newspaper of largest\ncirculation in the county, a display type advertisement of not less than twelve\n(12) column inches, the following:\n1. The tax rate levied in the preceding year, and the revenue produced by\nthat rate;\n2. The tax rate proposed for the current year and the revenue expected to be\nproduced by that rate;\n3. The compensating tax rate and the revenue expected from it;\n4. The revenue expected from new property and personal property;\n5. The general areas to which revenue in excess of the revenue produced in\nthe preceding year is to be allocated;\n6. A time and place for the public hearings which shall be held not less\nthan seven (7) days nor more than ten (10) days, after the day that the\nsecond advertisement is published;\n7. The purpose of the hearing; and\n8. A statement to the effect that the General Assembly has required\npublication of the advertisement and the information contained therein.\n(d) In lieu of the two (2) published notices, a single notice containing the required\ninformation may be sent by first -class mail to each person owning real\nproperty, addressed to the property owner at his residence or principal place of\nbusiness as shown on the current year property tax roll.\n(e) The hearing shall be open to the public. All persons desiring to be heard shall\nbe given an opportunity to present oral testimony. The county fiscal court may\nset reasonable time limits for testimony.\n(6) (a) That portion of a tax rate, excluding any special tax rate which may be levied\nat the request of a county community improvement district pursuant to KRS\n107.350 and 107.360, following a favorable vote upon a tax by the voters of\nthat county, levied by an action of a county fiscal court which will produce\nrevenue from real property, exclusive of revenue from new property, more\nthan four percent (4%) over the amount of revenue produced by the\ncompensating tax rate defined in KRS 132.010 shall be subject to a recall vote\nor reconsideration by the taxing distr ict, as provided for in KRS 132.017, and\nshall be advertised as provided for in paragraph (b) of this subsection.\n(b) The county fiscal court shall, within seven (7) days following adoption of an\nordinance to levy a tax rate, excluding any special tax rate  which may be\nlevied at the request of a county community improvement district pursuant to\nKRS 107.350 and 107.360, following a favorable vote upon a tax by the\nvoters of that county, which will produce revenue from real property,\nexclusive of revenue from  new property as defined in KRS 132.010, more\nthan four percent (4%) over the amount of revenue produced by the\ncompensating tax rate defined in KRS 132.010, cause to be published, in the\nnewspaper of largest circulation in the county, a display type adver tisement of\nnot less than twelve (12) column inches the following:\n1. The fact that the county fiscal court has adopted a rate;\n2. The fact that the part of the rate which will produce revenue from real\nproperty, exclusive of new property as defined in KRS  132.010, in\nexcess of four percent (4%) over the amount of revenue produced by the\ncompensating tax rate defined in KRS 132.010 is subject to recall; and\n3. The name, address, and telephone number of the county clerk, with a\nnotation to the effect that th at official can provide the necessary\ninformation about the petition required to initiate recall of the tax rate.","path":["KRS Chapter 68"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=24088","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:30Z","sha256":"05561c153c1ab829781034ae8f23a929c72adfc335b9a22d3e8ecd667790bae6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-68.243","next":"us-ky/krs-68.246"},"notice":"GroundRules: Original legal text. Not legal advice."}