KRS 132.487 — Centralized ad valorem tax system for all motor vehicles -- General and compensating tax rates -- Access to records -- Property valuation administrator to assess motor vehicles

(1) The department shall develop and administer a centralized ad valorem tax system
for all motor vehicles as defined in KRS 186.010. This system shall be designed to
allow the collection of state, county, city, urban -county government, school, and
special taxing district ad valorem taxes due on each motor vehicle at the time o f
registration of the motor vehicle by the party charged with issuing the registration.
The department shall supervise and instruct the property valuation administrators
and other officials with respect to their duties in relation to this system.
(2) Except as otherwise provided by law, the tax rate levied by the state, counties,
schools, cities, and special tax districts on motor vehicles shall not exceed the rate
that could have been levied on motor vehicles by the district on the January 1, 1983
assessments. All counties, schools, cities, and special taxing districts proposing to
levy an ad valorem tax on motor vehicles shall submit to the department on or
before October 1 of the year preceding the assessment date, the tax rate to be levied
against valuations as of that assessment date. Any district that fails to timely submit
the tax rate shall receive the rate in effect for the prior year.
(3) The compensating tax rate and maximum possible tax rate allowable for counties,
schools, cities, and special taxing districts on property other than motor vehicles for
the 1984 and subsequent tax periods shall be calculated excluding all valuations of
and tax revenues from motor vehicles from the base amounts used in arriving at
these general rates.
(4) The Transpor tation Cabinet shall provide access to all records of motor vehicle
registrations to the department and the property valuation administrators as
necessary to prepare and maintain a complete tax roll of motor vehicles throughout
each year.
(5) The property valuation administrator shall, subject to the direction, instruction, and
supervision of the department, have responsibility for assessing all motor vehicles
other than those assessed under KRS Chapter 136 as part of public service
companies. The departmen t may provide standard valuation guidelines for use in
valuation of motor vehicles.
(6) The property valuation administrator shall provide to the department by December 1
of each year a recapitulation of motor vehicles to be assessed as of January 1 of the
next year.
(7) Procedures for protest, appeal, and correction of erroneous assessments shall be the
same for motor vehicles as for other properties subject to ad valorem taxes.