Ky. Rev. Stat. » Chapter 132
Kentucky Revised Statutes

Ky. Rev. Stat. § 132.028 (2026)

Rate on business inventories levied by a city or urban-county government -

✓ current as of May 2026
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- Exception.

(1) Subject to the provisions of KRS 132.027, a city or urban-county government may levy a rate on business inventories equal to or less than the prevailing rate of taxation on other tangible personal property in the respective city or urban-county government.

(2) The tangible personal property tax shall not be levied upon:

(a) The inventories of licensed motor vehicle dealers, including licensed motor vehicle auction dealers; or

(b) Motor vehicles that are in the possession of a licensed motor vehicle dealer, including licensed motor vehicle auction dealers, for sale, although ownership has not been transferred to the dealer. Effective: June 25, 2013 History: Amended 2013 Ky. Acts ch. 94, sec. 2, effective June 25, 2013. -- Amended 1990 Ky. Acts ch. 106, sec. 1, effective July 13, 1990. -- Created 1980 Ky. Acts ch. 319, sec. 11, effective July 15, 1980.

Notes of Decisions
Cited in 1 case, 1996–1996 · leading case: Enron Corp. v. Spring Indep. Sch. Dist., 922 S.W.2d 931 (Tex. 1996).
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Enron Corp. v. Spring Indep. Sch. Dist., 922 S.W.2d 931 (Tex. 1996). “§ 12-81(54) (exempts business inventory from taxation); Idaho Code § 63 -105Y (exempts business inventory from taxation); Ky.Rev.Stat.Ann. § 132.028 (separately classifies and taxes inventory for motor vehicle dealers); La.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.