(A) Pursuant to KRS 132.285(1), the city hereby elects to use the annual county assessment as the basis for all ad valorem tax levies ordered or approved by the City Council on all real and personal property located within the corporate limits of the city.
(B) Each year, the city shall appropriate and pay to the office of the County Property Valuation Administrator a sum for the use of the property assessment as prescribed by KRS 132.285(1).
(Prior Code, § 36.01)