KRS 132.029 — Limits for city and urban-county government on personal property tax rate

(1) In the event that the tax rate applicable to real property levied by a city or urban -
county government will produce a percentage increase in revenue from personal
property less than the percentage increase in revenue from real property, the city or
urban-county government may levy a tax rate applicable to personal property which
will produce the same percentage increase in revenue from personal property as the
percentage increase in revenue from real property.
(2) The tax rate applicable to personal pro perty levied by a city or urban -county
government under the provisions of subsection (1) of this section shall not be
subject to the public hearing provisions of KRS 132.027(2) and to the recall
provisions of KRS 132.027(3).