KRS § 132.485 — KY Code / Title XI / Chapter 132 / Section 132.485
132.485 Motor vehicle registration as consent to assess -- Exceptions -- Assessment of vehicle twenty years old or older -- Ownership -- Assessment of vehicle purchased and registered in different years - Exemptions -- Criteria for adjustment of value
Status: in_force

132.485 Motor vehicle registration as consent to assess -- Exceptions --

Assessment of vehicle twenty years old or older -- Ownership --

Assessment of vehicle purchased and registered in different years (cid:19)

Exemptions -- Criteria for adjustment of value.

(1) (a) 1. The registration of a motor vehicle with a county clerk in order to

operate it or permit it to be operated upon the highways of the state

shall be deemed consent by the registrant for the motor vehicle to

be assessed by the property valuation administrator from a standard

manual prescribed by the department for valuing motor vehicles for

assessment unless:

a. The registrant appears before the property valuation

administrator to assess the vehicle; or

b. The motor vehicle is twenty (20) years old or older, in which

case paragraph (b) of this subsection applies regarding its

valuation.

2. The standard value of motor vehicles shall be the average trade-in

value, not the rough or clean trade-in values, prescribed by the

valuation manual.

3. The property valuation administrator may adjust the value of a motor

vehicle when the registrant has provided evidence that the standard

value does not reflect the motor vehicle's condition, options,

mileage, or certificate of title issued.

(b) In the case of motor vehicles that are twenty (20) years old or older:

1. It shall not be presumed that a vehicle has been maintained in, or

restored to, the original factory or otherwise classic condition or that

its value has increased over the previous year;

2. In assessing motor vehicles under this paragraph and calculating

the taxes due thereon, through the AVIS or otherwise, if the

registrant does not appear before the property valuation

administrator to assess the vehicle, the standard value shall be as

follows:

a. The actual valuation of the vehicle as was assessed in the

vehicle's nineteenth year, if the vehicle was assessed for

taxation in the Commonwealth in that year; or

b. The average trade-in value prescribed by the applicable edition

of the valuation manual for the vehicle in its nineteenth year, if

the vehicle was not assessed for taxation in the

Commonwealth in that year;

reduced by ten percent (10) annually for each year beyond

nineteen (19) years; and

3. In the case of any motor vehicle for which the assessment

procedure provided in subparagraph 2.b. of this paragraph would

apply but cannot be carried out because the applicable edition of the

valuation manual is unavailable, the property valuation administrator

shall conduct an assessment of the vehicle to determine the value

thereof for the given taxable year. The assessment under this

subparagraph may be done in person if the vehicle's owner presents

the vehicle at the property valuation administrator's office, or the

assessment may be done through a review of photographs and

other documentary evidence. In subsequent years, that valuation

shall be reduced by ten percent (10) annually.

(2) The registration of a recreational vehicle with the county clerk in order to

operate it or permit it to be operated upon the highways shall be deemed

consent by the registrant thereof for the recreational vehicle to be assessed by

the property valuation administrator at a valuation determined from a standard

manual prescribed by the department for valuing recreational vehicles for

assessment unless the registrant appears in person before the property

valuation administrator to assess the vehicle.

(3) The registration of a motor vehicle on or before the date that the registration of

the vehicle is required is prima facie evidence of ownership on January 1.

(4) When a motor vehicle is purchased in one (1) year, but registration takes place

after January 1 of the following year through no fault of the owner, the

department shall assess the motor vehicle and shall send notice of the

assessment to the January 1 owner in accordance with KRS 186A.035. If the

month of registration has passed for the current year, the assessment shall be

due and payable if not protested to the department within sixty (60) days from

the date of the notice. Payments made after the due date shall carry the normal

penalty and interest for motor vehicles.

(5) This section does not apply to motor vehicles or recreational vehicles owned

and operated by public service companies, common carriers, or agencies of

the state and federal governments.