Kentucky SB41 amends tax rate procedures for local governments and school districts.

Kentucky SB41 amends the Kentucky Revised Statutes to modify procedures for levying ad valorem tax rates by local governments and school districts. The bill requires public hearings and advertisements for tax rates exceeding the compensating tax rate. It also outlines procedures for petitioning to recall tax rates and mandates that certain tax rates be subject to voter approval. The changes apply to various local entities, including county fiscal courts, city governments, and school boards. The bill takes effect on January 1, 2027.

Kentucky SB41 amends tax rate procedures for local governments and school districts.

Kentucky SB41 amends the Kentucky Revised Statutes to modify procedures for levying ad valorem tax rates by local governments and school districts. The bill requires public hearings and advertisements for tax rates exceeding the compensating tax rate. It also outlines procedures for petitioning to recall tax rates and mandates that certain tax rates be subject to voter approval. The changes apply to various local entities, including county fiscal courts, city governments, and school boards. The bill takes effect on January 1, 2027.