Exempts certain motor vehicles from ad valorem taxes and adjusts tax rates for various properties.
Amends tax laws to exempt certain motor vehicles from ad valorem taxes. Specifically, it exempts motor vehicles assessed under KRS 132.485 for the January 1, 2022, and January 1, 2023, assessment dates. It also adjusts the tax rates for machinery, commercial radio and television equipment, and other properties. The bill includes provisions for refunds of overpaid taxes and adjustments to the state tax rate on real property.
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