KRS § 132.027 — KY Code / Title XI / Chapter 132 / Section 132.027
132.027 City and urban-county government tax rate limitation -- Levy exceeding compensating tax rate subject to recall vote or reconsideration
Status: in_force

132.027 City and urban-county government tax rate limitation -- Levy exceeding

compensating tax rate subject to recall vote or reconsideration.

(1) No city or urban-county government shall levy a tax rate which exceeds the

compensating tax rate defined in KRS 132.010 until the city or urban-county

government has complied with the provisions of subsection (2) of this section.

(2) (a) Cities or urban-county governments proposing to levy a tax rate which

exceeds the compensating tax rate defined in KRS 132.010 shall hold a public

hearing to hear comments from the public regarding the proposed tax rate. The

hearing shall be held in the principal office of the taxing district, or, in the

event the taxing district has no office, or the office is not suitable for a

hearing, the hearing shall be held in a suitable facility as near as possible to

the geographic center of the district.

(b) The city or urban-county government shall advertise the hearing by causing to

be published at least twice in two (2) consecutive weeks, in the newspaper of

largest circulation in the county, a display type advertisement of not less than

twelve (12) column inches, the following:

1. The tax rate levied in the preceding year, and the revenue produced by

that rate;

2. The tax rate proposed for the current year and the revenue expected to be

produced by that rate;

3. The compensating tax rate and the revenue expected from it;

4. The revenue expected from new property and personal property;

5. The general areas to which revenue in excess of the revenue produced in

the preceding year is to be allocated;

6. A time and place for the public hearing which shall be held not less than

seven (7) days nor more than ten (10) days after the day the second

advertisement is published;

7. The purpose of the hearing; and

8. A statement to the effect that the General Assembly has required

publication of the advertisement and the information contained therein.

(c) In lieu of the two (2) published notices, a single notice containing the required

information may be sent by first-class mail to each person owning real

property in the taxing district, addressed to the property owner at his residence

or principal place of business as shown on the current year property tax roll.

(d) The hearing shall be open to the public. All persons desiring to be heard shall

be given an opportunity to present oral testimony. The taxing district may set

reasonable time limits for testimony.

(3) (a) That portion of a tax rate levied by an action of a city or urban-county

government which will produce revenue from real property, exclusive of

revenue from new property, more than four percent (4%) over the amount of

revenue produced by the compensating tax rate defined in KRS 132.010 shall

be subject to a recall vote or reconsideration by the taxing district, as provided

for in KRS 132.017, and shall be advertised as provided for in paragraph (b)

of this subsection.

(b) The city or urban-county government shall, within seven (7) days following

adoption of an ordinance to levy a tax rate which will produce revenue from

real property, exclusive of revenue from new property as defined in KRS

132.010, more than four percent (4%) over the amount of revenue produced

by the compensating tax rate defined in KRS 132.010, cause to be published,

in the newspaper of largest circulation in the county, a display type

advertisement of not less than twelve (12) column inches the following:

1. The fact that the city or urban-county government has adopted a rate;

2. The fact that the part of the rate which will produce revenue from real

property, exclusive of new property as defined in KRS 132.010, in

excess of four percent (4%) over the amount of revenue produced by the

compensating tax rate defined in KRS 132.010 is subject to recall, and

3. The name, address, and telephone number of the county clerk of the

county or urban-county in which the taxing district is located, with a

notation to the effect that that official can provide the necessary

information about the petition required to initiate recall of the tax rate.