AN ACT relating to an ad valorem tax exemption for motor vehicles.

This bill would change how motor vehicles are taxed under Kentucky's property tax system by reducing the state property tax rate and creating an exemption for certain vehicles. Property taxes on vehicles are assessed annually in Kentucky, so this change could lower the tax bill many residents pay on their cars, trucks, or other motor vehicles. Who it may affect: Kentucky residents who own motor vehicles subject to annual state property taxes.

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