A: NEW IN 2020: [KRS 132.220 (1)(b)(2)(b)]If the total sum fair cash value of the tangible personal property is $1,000 or less per property location, then Form 62A500 is not required. Please note that records must be kept.
Your tangible tax bill is based on your KY Tangible Return, Form 62A500, which you file in our office by May of each year.
The calculated tax is based on the reported value you listed on the return.
The assessed value of your tangible property is based on the tangible return you file with our office each year in May.