HB 446/FN/LM (BR 1901) - B. Farmer
AN ACT relating to property tax.
Amend KRS 132.020 to lower the state property tax rate from 5 cents per $100 of value to 1/10 of one cent per $100 value on goods held for sale in the regular course of business including machinery and equipment held in a retailer's inventory for sale or lease originating under a floor plan financing arrangement, raw materials, and in-process materials held for incorporation in finished goods held for sale in the regular course of business; amend KRS 132.200 to exempt same property from local taxation; EFFECTIVE for property assessed on or after January 1, 2012.
Feb 23-introduced in House
Feb 27-to Appropriations & Revenue (H)