Ky. Rev. Stat. Ann. § 132.028 - Rate on Business Inventories Levied by a City or Urban-county Government -- Exception.

132.028 - Rate on Business Inventories Levied by a City or Urban-county Government -- Exception.
132.027 - City and Urban-county Government Tax Rate Limitation -- Levy Exceeding Compensating Tax Rate Subject to Recall Vote or Reconsideration.132.029 - Limits for City and Urban-county Government on Personal Property Tax Rate.

132.028 Rate on business inventories levied by a city or urban-county government --Exception.

  1. Subject to the provisions of KRS 132.027, a city or urban-county government may levy a rate on business inventories equal to or less than the prevailing rate of taxation on other tangible personal property in the respective city or urban-county government.
  2. The tangible personal property tax shall not be levied upon:
  3. (a) The inventories of licensed motor vehicle dealers, including licensed motor vehicle auction dealers; or
  4. (b) Motor vehicles that are in the possession of a licensed motor vehicle dealer, including licensed motor vehicle auction dealers, for sale, although ownership has not been transferred to the dealer.

Effective: June 25, 2013

  • History: Amended 2013 Ky. Acts ch. 94, sec. 2, effective June 25, 2013. --Amended 1990 Ky. Acts ch. 106, sec. 1, effective July 13, 1990. -- Created 1980 Ky. Acts ch. 319, sec. 11, effective July 15, 1980.
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