FRANKFORT, Ky. (WKYT) – May have slightly more money this yr to pay your automotive taxes.
“And clearly it is a market reform, it is not a tax enhance,” stated Franklin County Clerk Jeff Hancock.
Older vehicles value extra in provide chain points with newer vehicles. Consequently, your property tax invoice can even be greater due to the best way they’re assessed.
“It was not that we elevated the tax. The state did not choose up, the county did not choose up, the colleges did not choose up, no person picked up, all based mostly on the worth of the autos,” Hancock stated.
A Home panel voted unanimously to approve a invoice that units the worth of enterprise to “common” as an alternative of “clear.”
“So Home Invoice 6 follows the considerations of my constituents concerning a letter I acquired from the manager department stating that their automotive valuation values will enhance by 40% in 2022 in comparison with 2021,” Rep. Sal Santoro he stated.
There’s a provision on this invoice that when you have already paid tax, then you’re going to get a refund. However some individuals have questioned how lengthy it is going to take and who will difficulty this refund.
The Franklin County clerk stated there could possibly be an issue with returning funds already allotted to different companies.
“And we pay these tax districts on a month-to-month foundation, so we have already paid these taxes. I am curious to see how lengthy it takes to go from clear to common worth,” Hancock stated. .
Hancock stated it was additionally unclear whether or not the refund can be issued by his workplace or it could come from the state.
The invoice now goes to the total home for consideration.
Copyright 2022 WKYT. All rights reserved.