SEMA eNews Vol. 18, No. 11, March 12, 2015

Kentucky Bill to Assess Older Motor Vehicles for Property Tax Approved by Committee; Moves to Full Senate

By SEMA Washington, D.C., Staff

  ky
Kentucky Senate Transportation Committee approved legislation to put in place a new valuation procedure for older vehicles.
   

Legislation to put in place a new valuation procedure for older vehicles was approved by the Kentucky Senate Transportation Committee and now moves to a vote by the full Senate. The bill has already been approved by the House. Under the bill, vehicles 20 years old or older would no longer be presumed to be in "original factory" or "classic" condition. Original factory and classic vehicles are currently assessed as high-value collectibles. This measure instead provides three options for assessing the value of these vehicles.

For more information, visit the SEMA Action Network (SAN) website. For details, contact Steve McDonald at stevem@sema.org.

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