160.460 Levy of school taxes -- Procedures. - Kentucky Statutes

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160.460 Levy of school taxes -- Procedures. (1) All school taxes shall be levied by the board of education of each school district. The tax-levying authority shall levy an ad valorem tax within the limits prescribed
in KRS 160.470, which will obtain for the school district the amount of money
needed as shown in the district's general school budget submitted under the
provisions of KRS 160.470. (2) The tax-levying authority shall make an annual school levy not later than July 1. The school levy shall not be made until the general school budget has been received
and approved by the Kentucky Board of Education. The failure of the authority to
make the levy by the date prescribed shall not invalidate any levy made thereafter. (3) All school taxes shall be levied on all property subject to local taxation in the jurisdiction of the tax-levying authority. If the school levy is to be made upon the
city assessment, which is hereby authorized for independent school districts
embraced by cities of the first four (4) classes, the clerk of the city shall furnish to
the school district or districts which the city embraces, the assessed valuation of
property subject to local taxation in the school district, as determined by its tax
assessor. If the school levy is to be made upon the county assessment the county
clerk shall furnish to the proper school district or districts the assessed valuation of
property subject to local taxation in the district or districts, as certified by the
Kentucky Department of Revenue. No later than July 1, 1994, all real property
located in the state and subject to local taxation shall be assessed at one hundred
percent (100%) of fair cash value. Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 85, sec. 593, effective June 20, 2005. -- Amended 1996 Ky. Acts ch. 362, sec. 6, effective July 15, 1996. -- Amended 1990 Ky. Acts
ch. 476, Pt. V, sec. 104, effective July 13, 1990. -- Amended 1978 Ky. Acts ch. 155,
sec. 82, effective June 17, 1978. -- Amended 1976 Ky. Acts ch. 127, sec. 2, effective
June 19, 1976. -- Amended 1950 Ky. Acts ch. 71, sec. 1.-- Amended 1949 (1st Extra.
Sess.) Ky. Acts ch. 7, sec. 1. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective
October 1, 1942, from Ky. Stat. sec. 4399-40.