(WCLU NEWS FILE PHOTO)
FRANKFORT, Ky. (AP) — Kentucky lawmakers have advanced a bill to give taxpayers relief from the sticker shock of surging vehicle property taxes.
The increase has been caused by a pandemic-related skyrocketing of used car values. The measure won approval Tuesday from the House Appropriations and Revenue Committee. The legislation heads to the full House next.
The bill would change the method to determine a vehicle’s value. Kentuckians who already paid their vehicle property taxes this year would receive refunds for overpayments.
Last month, state officials notified county property value administrators that 2022 valuation increases for vehicles would go up about 40%.
