KRS 132.486 — Assessment system for tangible personal property -- Administrative regulations -- Appeals -- Effect of appeal on payment of taxes

(1) The Department of Revenue shall develop and administer a centralized ad valorem
assessment system for tangible perso nal property. This system shall be designed to
provide on -line computer terminals and accessory equipment in every property
valuation administrator's office in the state in order to create and maintain a
centralized personal property tax roll database.
(2) Appeals of personal property assessments shall not be made to the county board of
assessment appeals. Personal property taxpayers shall be served notice under the
provisions of KRS 132.450(4) and shall have the protest and appeal rights granted
under the provision of KRS 131.110.
(3) No appeal shall delay the collection or payment of taxes based upon the assessment
in controversy. The taxpayer shall pay all state, county, and district taxes due on the
valuation which the taxpayer claims as the true value a s stated in a protest filed
under KRS 131.110. When the valuation is finally determined upon appeal, the
taxpayer shall be billed for any additional tax and interest at the tax interest rate as
defined in KRS 131.010(6), from the date the tax would have be come due if no
appeal had been taken. The provisions of KRS 134.015(6) shall apply to the tax bill.