{"data":{"id":"us-ky/krs-99.605","jurisdiction":"us-ky","citation":"KRS 99.605","heading":"Applications for moratorium certificates -- Extensions -- Lapsing of","body":"certificates -- Transfers.\n(1) Any owner of an existing residential building, or any owner or lessee of a\ncommercial facility, may make application to the administering agency for a\nproperty assessment or reassessment moratorium certificate. The application shall\nbe filed within thirty (30) days before commencing restoration, repair,\nrehabilitation, or stabilization and shall be filed in a manner prescribed by the\nadministering agency and on a form prescribed by the Department of Revenue. The\napplication shall contain or be accompanied by a general description of the property\nand a general description of the proposed use of the property, the general nature and\nextent of the restoration,  repair, rehabilitation, or stabilization to be undertaken and\na time schedule for undertaking and completing the project. If the property is a\ncommercial facility, the application shall in addition, be accompanied by a\ndescriptive list of the fixed buildi ng equipment which will be a part of the facility\nand a statement of the economic advantages expected from the moratorium,\nincluding expected construction employment.\n(2) Except as otherwise provided herein, the property valuation administrator, or other\nassessing official, and the administering agency shall maintain a record of all\napplications for a property assessment or reassessment moratorium and shall assess\nor reassess the property within thirty (30) days of receipt of the application. The\nadministering agency shall issue a moratorium certificate only after completion of\nthe project. The applicant shall notify the administering agency when the project is\ncomplete and the administering agency shall then conduct an on -site inspection of\nthe property for purposes of verifying improvements.\n(3) The applicant shall have two (2) years in which to complete the improvement unless\ngranted an extension by the administering agency. In no case shall the application\nbe extended beyond two (2) additional years. This  provision shall not preclude\nnormal reassessment of the subject property.\n(4) Any application for an assessment or reassessment moratorium not acted upon by\nthe applicant shall become void two (2) years from the date of application and shall\nbe purged from the files of the administering agency.\n(5) An assessment or reassessment moratorium certificate may be transferred or\nassigned by the holder of the certificate to a new owner or lessee of the property.","path":["KRS Chapter 99"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26564","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:02Z","sha256":"1d20f923b68238a7e8aa98aa1a3de11691d078fad00d15e7cb66c36e5fd7fe53","source_id":"us-ky","stale":false,"prev":"us-ky/krs-99.600","next":"us-ky/krs-99.610"},"notice":"GroundRules: Original legal text. Not legal advice."}