Change the Law! No Vehicle Tax Increase
Vehicle taxes are going up, unless you, and your Kentucky Legislators do something about it.
On January 6, the Kentucky Office of Property Valuation reported an “unprecedented rising value of most motor vehicles” 40% more than last year. This means vehicle taxes are going up, significantly.
According to Kentucky’s Division of State Valuation, the value of a Kentucky vehicle usually increases 3% to 4% each year. Last year, the average value was up 11%.
This year, demand for new and used vehicles is high causing their value rise.
When the value goes up, state leaders say, so do your taxes.
Unless you, and your Legislator do something about it.
The Kentucky Constitution governs property valuation. Lawmakers decide how to make this happen.
Tell your lawmaker to change Kentucky Revised Statutes KRS Chapter 138 to state that the assessed value of a motor vehicle, cannot be increased year over year. It should state, the value assessment, outside of depreciation, can only occur when the vehicle title is transferred.
You can stop this tax increase.