132.099 Local taxation of personal property held for shipment out of state. - Kentucky Statutes

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Page 1 of 1 132.099 Local taxation of personal property held for shipment out of state. (1) The tax rate levied by cities, counties, charter counties, urban-counties, and school districts on personal property placed in a warehouse or distribution center for the
purpose of subsequent shipment to an out-of-state destination shall be as follows:
(a) Eighty percent (80%) of the tax rate levied on other tangible personal property for tax assessments made on January 1, 2000; and (b) Fifty percent (50%) of the tax rate levied on other tangible personal property for tax assessments made on January 1, 2001. (2) Personal property placed in a warehouse or distribution center for the purpose of subsequent shipment to an out-of-state destination shall be exempt from the ad
valorem tax levied by cities, counties, charter counties, urban-counties, and school
districts for tax assessments made on or after January 1, 2002. (3) Any fire district or other special taxing district may exempt from the ad valorem tax personal property placed in a warehouse or distribution center for the purpose of
subsequent shipment to an out-of-state destination. (4) For the purpose of this section, personal property shall be deemed to be held for shipment to an out-of-state destination if the owner can reasonably demonstrate that
the personal property will be shipped out of state within the next six (6) months. Effective: July 14, 2000
History: Created 2000 Ky. Acts ch. 274, sec. 3, effective July 14, 2000.