67A.887 Annual levy of assessment against benefited property. - Kentucky Statutes

Download pdf

Loading PDF...

67A.887 Annual levy of assessment against benefited property. The sum necessary to be raised annually for the sinking fund and consequent amortization
of the outstanding bonds, whether all authorized bonds have been issued or not (together
with the sum of any amounts required annually to pay trustees' fees, paying agents' fees,
cost of administration of the project, and the cost of billing, collecting and enforcing
improvement benefit assessments, including fees of proper governmental bodies incident
to placing assessment bills on tax statements, and collecting, enforcing and remitting
same), shall be levied and assessed from time to time against the benefited properties
pursuant to the prior determinations made by the government in respect of benefits
received. If the urban-county council of the government has determined that all benefited
properties within classified zones are substantially equally benefited and that all therein
shall be assessed equally, the same assessment levy shall be made against each benefited
property within a classified zone. In other cases, if any, the sum necessary to be raised
annually for amortization of the bonds shall be levied and assessed against the benefited
properties in the proportion that the assessed value of each individual lot, parcel or tract
for urban-county government ad valorem taxation shall bear to the whole assessed value
of all the benefited properties as shown by the records upon which urban-county
government ad valorem taxation may from time to time be based. Where there is no such
record, as in the case of public property or property owned by religious, charitable or
educational institutions, the same (except that owned by the United States government)
shall be specially assessed by the proper assessing officers and for such special
assessment reasonable compensation shall be paid. Any such special assessment shall be
subject to all procedures for equalization and judicial review as may be provided by law
in connection with ordinary assessments. Effective: March 30, 1976
History: Created 1976 Ky. Acts ch. 371, sec. 17, effective March 30, 1976.