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

Ky. Rev. Stat. § 132.190 (2026)

Property subject to taxation -- Situs

✓ current as of May 2026
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(1) All property shall be subject to taxation, unless it is exempted by the Constitution or in the case of personal property unless it is exempted by the Constitution or by statute. Twenty-five (25) domestic fowl to each family shall be exempt from taxation for any purpose. (2) All intangible personal property of corporations organized under the laws of this state, unless it has acquired a business situs without this state, shall be considered and estimated in fixing the valuation of corporate franchises. (3) Property shall be assessed for taxation at its fair cash value, estimated at the price it would bring at a fair voluntary sale, except: real property qualifying for an assessment moratorium shall not have its fair cash value assessment changed while under the assessment moratorium unless the assessment moratorium expires or is otherwise canceled or revoked. (4) Nothing contained in this section shall affect the liability for franchise taxes payable by corporations organized under the laws of this state. Effective: June 27, 2019 History: Amended 2019 Ky. Acts ch. 196, sec. 6, effective June 27, 2019. -- Amended 2005 Ky. Acts ch. 168, sec. 56, effective January 1, 2006. -- Amended 2000 Ky. Acts ch. 274, sec. 1, effective July 14, 2000. -- Amended 1996 Ky. Acts ch. 254, sec. 25, effective July 15, 1996. -- Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 320, effective July 13, 1990. --Amended 1982 Ky. Acts ch. 141, sec. 58, effective July 1, 1982; and ch. 327, sec. 6, effective July 15, 1982. -- Amended 1966 Ky. Acts ch. 255, sec. 127. -- Amended 1960 Ky. Acts ch. 186, Art. I, sec. 3. -- Amended 1948 Ky. Acts ch. 33, sec. 1. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4019a-5, 4020, 4020a-1, 4023. Note: 1980 Ky. Acts ch. 396, sec. 63 would have amended this section effective July 1, 1982. However, 1980 Ky. Acts ch. 396 was repealed by 1982 Ky. Acts ch. 141, sec. 146, also effective July 1, 1982.

Notes of Decisions
Cited in 15 cases (2 in the last 5 years), 1943–2022 · leading case: Kentucky Dep't of Revenue v. Hobart Mfg. Co., 549 S.W.2d 297 (Ky. 1977).
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Kentucky Dep't of Revenue v. Hobart Mfg. Co., 549 S.W.2d 297 (Ky. 1977). · cites it 2× “KRS 132.190(l)(a) clearly provides that the intangible personal property of corpora *299 tions not organized under the laws of this state is subject to taxation if it has acquired a business situs within this state.”
Kentucky Dep't of Revenue v. Bomar, 486 S.W.2d 532 (Ky. Ct. App. 1972). · cites it 2× “3 The Kentucky Board of Tax Appeals overruled a protest based upon the claim that the trust had a business situs in Georgia and sustained the assessment, but on appeal the circuit court held that the property assessed was exempt from Kentucky ad valorem taxes under KRS…”
Atl. Coast Line R. Co. v. Commonwealth, 193 S.W.2d 749 (Ky. Ct. App. 1946). “The source of the dividend is the stock owned, and none of the stock in the present case is subject to ad valorem taxation in Kentucky.”
Kentucky Tax Comm'n v. Jefferson Motel, Inc., 387 S.W.2d 293 (Ky. Ct. App. 1965). “KRS 132.190(3). 8 .The question of classification would arise only if the leasehold were assessed at a different percentage of fair cash value, or taxed at a different rate, from, real estate.”
Reeves v. Island Creek Fuel & Transp. Co., 230 S.W.2d 924 (Ky. Ct. App. 1950). “" KRS 132.190 provides: "The property subject to taxation, unless exempted by the Constitution, shall be as follows: (a) All real and personal property within this state, * * *.”
Bd. of Tax Suprs. Etc. v. Baldwin Piano Co., 178 S.W.2d 212 (Ky. Ct. App. 1944). “) now included in KRS 132.190, which subjected to taxation “All real and personal property within this state, including intangible personal property of nonresidents and corporations not organized under the laws of this state that has acquired a business situs within this state *…”
Commonwealth ex rel. Luckett v. Louisville & Nashville R.R., 479 S.W.2d 15 (Ky. Ct. App. 1972). “KRS 132.190(1) (b) provides: “(1) The property subject to taxation, unless exempted by the Constitution, shall be as follows ****** “(b) All intangible personal property of individuals residing in this state and of corporations organized under the laws of this state unless it…”
Koehler v. Commonwealth ex rel. Luckett, 432 S.W.2d 397 (Ky. Ct. App. 1968). “Appellant contends that during the tax period in question he was a resident of Indiana; that inasmuch as the I.”
Reeves v. Island Creek Fuel & Transp. Co., 230 S.W.2d 924 (Ky. Ct. App. 1950). “” KRS 132.190 provides: “The property subject to taxation, unless exempted by the Constitution, shall be as follows: (a) All real and personal property within this state, * * *.”
Commonwealth v. Sun Life Assur. Co. of Canada, 170 S.W.2d 890 (Ky. Ct. App. 1943). “6, page 1026, KRS 132.190. • The purpose of the 1938 amendment, of course, was to subject to taxation a nonresident’s.”
Stand. Oil Co. v. Commonwealth ex rel. Allphin, 311 S.W.2d 372 (Ky. Ct. App. 1957). “Clause of the Constitution of the United ^TafSS“a5"CSfístituting a burden on interstate and foreign commerce; that it would also violate the Fourteenth Amendment to the Constitution of the United States in that it would deprive the taxpayer of its property without due process of…”
Bowles v. Gilpin, 185 S.W.2d 698 (Ky. Ct. App. 1945). “” KRS 132.190 provides, among other things, that intangible personal property of individuals residing in this state shall be subject to taxation unless exempt by the Constitution.”
Show all 15 citing cases →
— Ky. Rev. Stat. § 132.190(1) — 2 cases
Kentucky Dep't of Revenue v. Bomar, 486 S.W.2d 532 (Ky. Ct. App. 1972). “3 The Kentucky Board of Tax Appeals overruled a protest based upon the claim that the trust had a business situs in Georgia and sustained the assessment, but on appeal the circuit court held that the property assessed was exempt from Kentucky ad valorem taxes under KRS…”
Commonwealth ex rel. Luckett v. Louisville & Nashville R.R., 479 S.W.2d 15 (Ky. Ct. App. 1972). “KRS 132.190(1) (b) provides: “(1) The property subject to taxation, unless exempted by the Constitution, shall be as follows ****** “(b) All intangible personal property of individuals residing in this state and of corporations organized under the laws of this state unless it…”
— Ky. Rev. Stat. § 132.190(3) — 3 cases
Kentucky Tax Comm'n v. Jefferson Motel, Inc., 387 S.W.2d 293 (Ky. Ct. App. 1965). “KRS 132.190(3). 8 .The question of classification would arise only if the leasehold were assessed at a different percentage of fair cash value, or taxed at a different rate, from, real estate.”
Borders Self-Storage & Rentals, LLC v. Commonwealth of Kentucky, Transp. Cabinet, Dep't of Highways (Ky. 2021).
Sarin M. Shah v. Bhajana Sarin Shah (Ky. Ct. App. 2022).
— Ky. Rev. Stat. § 132.190(4) — 2 cases
Kentucky Dep't of Revenue v. Bomar, 486 S.W.2d 532 (Ky. Ct. App. 1972). “3 The Kentucky Board of Tax Appeals overruled a protest based upon the claim that the trust had a business situs in Georgia and sustained the assessment, but on appeal the circuit court held that the property assessed was exempt from Kentucky ad valorem taxes under KRS…”
Koehler v. Commonwealth ex rel. Luckett, 432 S.W.2d 397 (Ky. Ct. App. 1968). “Appellant contends that during the tax period in question he was a resident of Indiana; that inasmuch as the I.”
— Ky. Rev. Stat. § 132.190(l)(a) — 1 case
Kentucky Dep't of Revenue v. Hobart Mfg. Co., 549 S.W.2d 297 (Ky. 1977). “KRS 132.190(l)(a) clearly provides that the intangible personal property of corpora *299 tions not organized under the laws of this state is subject to taxation if it has acquired a business situs within this state.”
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