132.023 Limits for special purpose governmental entities -- Procedure for exceeding limits

132.023 Limits for special purpose governmental entities -- Procedure for

exceeding limits.

(1) No special purpose governmental entity shall levy a tax rate which exceeds the

compensating tax rate until the taxing district has complied with the provisions of

KRS 65A.110 and subsection (2) of this section.

(2) (a) A special purpose governmental entity proposing to levy a tax rate which

exceeds the compensating tax rate shall submit the proposed rate as required

by KRS 65A.110 and shall hold a public hearing to hear comments from the

public regarding the proposed tax rate. The hearing shall be held in the same

location where the governing body of the city or county where the largest

number of citizens served by the special purpose governmental entity reside

meets, and shall be held immediately before a regularly scheduled meeting of

that governing body.

(b) The special purpose governmental entity 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 that 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 special purpose governmental entity, 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 special purpose

governmental entity may set reasonable time limits for testimony.

(3) (a) That portion of a tax rate levied by an action of a special purpose

governmental entity 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 shall be subject to a recall

vote or reconsideration by the special purpose governmental entity, as

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

(b) of this subsection.

mental entity 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 shall be subject to a recall

vote or reconsideration by the special purpose governmental entity, as

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

(b) of this subsection.

(b) The special purpose governmental entity shall, within seven (7) days

following adoption of an ordinance, order, resolution, or motion to levy a tax

rate 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, 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 taxing district has adopted a rate;

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

property, exclusive of new property, in excess of four percent (4%) over

the amount of revenue produced by the compensating tax rate is subject

to recall; and

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

county in which the special purpose governmental entity 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.