Notwithstanding the maximum tax rates in KRS 68.180, 68.197, and 91.200, a tax district which levies a tax on net profits may levy a tax rate that would generate approximately the same amount of revenues as the prior year plus normal revenue growth experienced by the tax district over the prior five (5) years. A tax district may invoke the provisions of this section only once.
KRS 67.793
Tax district may levy one-time tax rate
Effective: June 24, 2003 History: Created 2003 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.