# KRS § 132.018: 132.018 Reduction of tax rate on personal property

> Kentucky · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.018

## Section

- **Citation:** KRS § 132.018
- **Heading:** 132.018 Reduction of tax rate on personal property
- **Jurisdiction:** Kentucky
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** KY Code / Title XI / Chapter 132 / Section 132.018

## Text

132.018 Reduction of tax rate on personal property.

(1) If the tax rate applicable to real property levied by a county fiscal court, district

board of education, or legislative body of a city, consolidated local government,

urban-county government, or other taxing district is reduced as a result of

reconsideration by the county fiscal court, district board of education, or legislative

body of a city, consolidated local government, urban-county government, or other

taxing district under the provisions of KRS 132.017(2)(j), the tax rate applicable to

personal property levied under the provisions of KRS 68.248(1), 132.024(1),

132.029(1), and 160.473(1) shall be reduced by the respective county fiscal court,

district board of education, or legislative body of a city, consolidated local

government, urban-county government, or other taxing district to an amount which

will produce the same percentage increase in revenue from personal property as the

percentage increase in revenue from real property resulting from the reduced tax

rate applicable to real property.

(2) If the tax rate applicable to real property levied by a county fiscal court, district

board of education, or legislative body of a city, consolidated local government,

urban-county government, or other taxing district is reduced, under the provisions

of KRS 132.017(3), as a result of a majority of votes cast in an election being

opposed to such a rate, the tax rate applicable to personal property levied by the

respective county fiscal court, district board of education, or legislative body of a

city, consolidated local government, urban-county government, or other taxing

district shall be reduced, without further action by the levying body, to an amount

which will produce the same percentage increase in revenue from personal property

as the percentage increase in revenue from real property resulting from the reduced

tax rate applicable to real property.

## Nearby sections

- [KRS § 132.010 132.010 Definitions for chapter](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.010.md)
- [KRS § 132.012 132.012 "Abandoned urban property" defined -- Classification as real property for tax purposes](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.012.md)
- [KRS § 132.015 132.015 List of real property additions and deletions to tax rolls to be maintained by property valuation administrator](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.015.md)
- [KRS § 132.017 132.017 Recall petition -- Requirements and procedures -- Reconsideration -- Election -- Tax dollars not to be used to advocate for or against public question -- Second billing](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.017.md)
- [KRS § 132.018 132.018 Reduction of tax rate on personal property](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.018.md)
- [KRS § 132.020 132.020 State ad valorem taxes](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.020.md)
- [KRS § 132.023 132.023 Limits for special purpose governmental entities -- Procedure for exceeding limits](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.023.md)
- [KRS § 132.024 132.024 Limits for special purpose governmental entities on personal property tax rate](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.024.md)
- [KRS § 132.025 132.025 Cumulative increase for 1982-83 only by taxing district -- Limit -- Public hearing and recall provisions not applicable](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.025.md)
- [KRS § 132.027 132.027 City and urban-county government tax rate limitation -- Levy exceeding compensating tax rate subject to recall vote or reconsideration](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.027.md)
- [KRS § 132.028 132.028 Rate on business inventories levied by a city or urban-county government -- Exception](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.028.md)
- [KRS § 132.029 132.029 Limits for city and urban-county government on personal property tax rate](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.029.md)
- [KRS § 132.030 132.030 Financial institution deposit tax](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.030.md)
- [KRS § 132.040 132.040 Financial institutions to report and pay tax -- Lien](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.040.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C132_S132.018. Check the current official text before relying on it. Not legal advice.