Section 132.190 - Property subject to taxation - Situs(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.Amended by 2019 Ky. Acts ch. 196,§ 6, eff. 6/26/2019.Effective:1/1/2006
Amended 2005, Ky. Acts ch. 168, sec. 56, effective1/1/2006. --Amended 2000, Ky. Acts ch. 274, sec. 1, effective 7/14/2000. -- Amended 1996, Ky. Acts ch. 254, sec. 25, effective 7/15/1996. -- Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 320, effective 7/13/1990. --Amended 1982 Ky. Acts ch. 141, sec. 58, effective 7/1/1982; and ch. 327, sec. 6, effective 7/15/1982. --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 10/1/1942, from Ky. Stat. sec. 4019a-5, 4020, 4020a-1, 4023.