KRS § 136.180 — KY Code / Title XI / Chapter 136 / Section 136.180
136.180 Notice and certification of valuation -- Effect of appeal on payment of taxes -- Payment of fee by any district which has value certified by department
Status: in_force

136.180 Notice and certification of valuation -- Effect of appeal on payment of

taxes -- Payment of fee by any district which has value certified by department.

(1) The Department of Revenue shall, immediately after fixing the assessed value of the

operating property and other property of a public service corporation for taxation,

notify the corporation of the valuation and the amount of assessment for state and

local purposes. When the valuation has been finally determined, the department

shall immediately certify, unless otherwise specified, to the county clerk of each

county in which any of the operating property or nonoperating tangible property

assessment of the corporation is liable to local taxation, the amount of property

liable for county, city, or district tax.

(2) No appeal shall delay the collection or payment of taxes based upon the assessment

in controversy. The taxpayer shall pay all state, county, and district taxes due on the

valuation which the taxpayer claims as the true value as stated in the protest filed

under KRS 131.110. When the valuation is finally determined upon appeal, the

taxpayer shall be billed for any additional tax and interest at the tax interest rate as

defined in KRS 131.010(6), from the date the tax would have become due if no

appeal had been taken. The provisions of KRS 134.015(6) shall apply to the tax bill.

(3) The Department of Revenue shall compute annually a multiplier for use in

establishing the local tax rate for the operating property of railroads or railway

companies that operate solely within the Commonwealth. The applicable local tax

rates on the operating property shall be adjusted by the multiplier. The multiplier

shall be calculated by dividing the statewide locally taxable business tangible

personal property by the total statewide business tangible personal property.

(4) The Department of Revenue shall annually calculate an aggregate local rate for each

local taxing district to be used in determining local taxes to be collected for railroad

carlines. The rate shall be the statewide tangible tax rate for each type of local

taxing district multiplied by a fraction, the numerator of which is the commercial

and industrial tangible property assessment subject to full local rates and the

denominator of which is the total commercial and industrial tangible personal

property assessment. Effective January 1, 1994, state and local taxes on railroad

carline property shall become due sixty (60) days from the date of notice and shall

be collected directly by the Department of Revenue. The local taxes collected by the

Department of Revenue shall be distributed to each local taxing district levying a

tax on railroad carlines based on the statewide average rate for each type of local

taxing district. However, prior to distribution any fees owed to the Department of

Revenue by any local taxing district under the provisions of subsection (5) of this

section shall be deducted.

(5) The certification of valuation shall be filed by each county clerk in his office, and

shall be certified by the county clerk to the proper collecting officer of the county,

city, or taxing district for collection. Any district which has the value certified by

the department shall pay an annual fee to the department which represents an

allocation of department operating and overhead expenses incurred in generating

the valuations. This fee shall be determined by the department and shall apply to

valuations for tax periods beginning on or after December 31, 1981.