KRS 140.320 — Taxation of land converted from agricultural use

If, within five (5) years after the death of the decedent, a qualified person sells, conveys,
or otherwise transfers the ownership, directly or indirectly, of the qualified real estate to
any person or persons other than another qualified person who is a j oint owner or the
qualified real estate is converted to a use other than agricultural or horticultural use, then
the qualified persons to whom the property passed at the death of the decedent in whose
estate the agricultural or horticultural value was repo rted shall cause to be paid, pursuant
to administrative regulations promulgated by the Department of Revenue, the additional
inheritance tax that would have been due on the decedent's estate if fair market value had
been used to compute the tax due on the estate rather than the agricultural or horticultural
value, along with interest at the tax interest rate as defined in KRS 131.010(6).