KRS 132.0225 — Deadline for establishing final tax rate -- Exemption -- Procedure if increased revenue is greater than four percent

(1) (a) A taxing district that does not elect to attempt to set a rate that will produce
more than four percent (4%) in additio nal revenue, exclusive of revenue from
new property as defined in KRS 132.010, over the amount of revenue
produced by the compensating tax rate as defined in KRS 132.010 shall
establish a final tax rate within forty -five (45) days of the department's
certification of the county's property tax roll.
(b) For boards of education, the forty -five (45) days shall begin from the date of
the department's certification to the chief state school officer as required by
KRS 160.470(4).
(c) A city that does not elect to have city ad valorem taxes collected by the sheriff
as provided in KRS 91A.070(1) shall be exempt from the forty -five (45) day
deadline.
(d) Any nonexempt taxing district that fails to meet the forty -five (45) day
deadline shall be required to use the com pensating tax rate for that year's
property tax bills.
(2) A taxing district that elects to attempt to set a rate that will produce more than four
percent (4%) in additional revenue, exclusive of revenue from new property as
defined in KRS 132.010, over the amount of revenue produced by the compensating
tax rate as defined in KRS 132.010 shall follow the provisions of KRS 132.017.