AN ACT relating to the levy of an ad valorem tax rate.

Amend KRS 132.017, relating to the process for a recall of a local ad valorem tax rate, to define "school nickel tax rate"; require a petition process for recalling the levy of a school nickel tax rate; remove other taxes levied by local governmental entities from the petition process requirements; require an ad valorem tax levied by a local governmental entity and a general tax rate levied by a local board of education to be…

Taxation, Property Local Mandate County Clerks Education, Elementary and Secondary Effective Dates, Delayed Property Cities Counties Education, Finance Elections and Voting Local Government Special Districts Special Purpose Governmental Entities Taxation Fiscal Note

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This bill changes how local governments and school boards in Kentucky can raise property tax rates. Under the new rules, if a local government or school board wants to collect more than 4% in additional revenue above the baseline rate, voters must approve that increase in an election rather than residents having to gather petition signatures to trigger a recall vote. Local governments and school boards can avoid the election requirement by choosing to limit…

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