KRS 132.485 — Motor vehicle registration as consent to assess -- Exceptions -- Assessment of vehicle twenty years old or older -- Ownership -- Assessment of vehicle purchased and registered in different years – Exemptions -- Criteria for adjustment of value

(1) (a) 1. The registration of a motor vehicle with a county clerk in order to
operate it or permit it to be operated upon the highways of the state
shall be deemed consent by the registrant for the motor vehicle to
be assessed by the property valuation administrator from a standard
manual prescribed by the department for valuing motor vehicles for
assessment unless:
a. The registrant appears before the property valuation
administrator to assess the vehicle; or
b. The motor vehicle is twenty (20) years old or older, in which
case paragraph (b) of this subsection applies regarding its
valuation.
2. The standard value of motor vehicles shall be the average trade-in
value, not the rough or clean trade-in values, prescribed by the
valuation manual.
3. The property valuation administrator may adjust the value of a motor
vehicle when the registrant has provided evidence that the standard
value does not reflect the motor vehicle's condition, options,
mileage, or certificate of title issued.
(b) In the case of motor vehicles that are twenty (20) years old or older:
1. It shall not be presumed that a vehicle has been maintained in, or
restored to, the original factory or otherwise classic condition or that
its value has increased over the previous year;
2. In assessing motor vehicles under this paragraph and calculating
the taxes due thereon, through the AVIS or otherwise, if the
registrant does not appear before the property valuation
administrator to assess the vehicle, the standard value shall be as
follows:
a. The actual valuation of the vehicle as was assessed in the
vehicle's nineteenth year, if the vehicle was assessed for
taxation in the Commonwealth in that year; or
b. The average trade-in value prescribed by the applicable edition
of the valuation manual for the vehicle in its nineteenth year, if
the vehicle was not assessed for taxation in the
Commonwealth in that year;
reduced by ten percent (10%) annually for each year beyond
nineteen (19) years; and
3. In the case of any motor vehicle for which the assessment
procedure provided in subparagraph 2.b. of this paragraph would
apply but cannot be carried out because the applicable edition of the
valuation manual is unavailable, the property valuation administrator
shall conduct an assessment of the vehicle to determine the value
thereof for the given taxable year. The assessment under this
subparagraph may be done in person if the vehicle's owner presents
the vehicle at the property valuation administrator's office, or the
assessment may be done through a review of photographs and
other documentary evidence. In subsequent years, that valuation
shall be reduced by ten percent (10%) annually.
(2) The registration of a recreational vehicle with the county clerk in order to
operate it or permit it to be operated upon the highways shall be deemed
consent by the registrant thereof for the recreational vehicle to be assessed by
the property valuation administrator at a valuation determined from a standard
manual prescribed by the department for valuing recreational vehicles for
assessment unless the registrant appears in person before the property
valuation administrator to assess the vehicle.
(3) The registration of a motor vehicle on or before the date that the registration of
the vehicle is required is prima facie evidence of ownership on January 1.
(4) When a motor vehicle is purchased in one (1) year, but registration takes place
after January 1 of the following year through no fault of the owner, the
department shall assess the motor vehicle and shall send notice of the
assessment to the January 1 owner in accordance with KRS 186A.035. If the
month of registration has passed for the current year, the assessment shall be
due and payable if not protested to the department within sixty (60) days from
the date of the notice. Payments made after the due date shall carry the normal
penalty and interest for motor vehicles.
(5) This section does not apply to motor vehicles or recreational vehicles owned
and operated by public service companies, common carriers, or agencies of
the state and federal governments.