SEMA eNews Vol. 18, No. 12, March 19, 2015

Kentucky State Legislature Approves Bill to Assess Older Motor Vehicles for Property Tax; Moves to Governor

By SEMA Washington, D.C., Staff

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The Kentucky Legislature approved legislation to put in place a new and more beneficial valuation procedure for older vehicles.

Legislation to put in place a new and more beneficial valuation procedure for older vehicles was approved by the Kentucky Legislature and now moves to Governor Steve Beshear for his signature and enactment into law. 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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