SB180

Kentucky SB180 amends property valuation laws, focusing on agricultural and horticultural land use, assessment, and taxation.

Kentucky SB180 revises property valuation laws to clarify the assessment and taxation of agricultural and horticultural land. It mandates that land used for agricultural or horticultural purposes retains its valuation unless it changes use. The bill outlines specific conditions under which land can retain its agricultural or horticultural classification, including the exclusion of certain residential areas. It also details the process for reporting land use changes to the property valuation administrator and the assessment of fair cash value for properties that change use.