The city does hereby adopt, approve and elect to use the annual assessment of property prepared for the county for property situated within the corporate limits of the city as the basis of the ad valorem tax levied herein. The City Clerk/Treasurer shall notify the Commonwealth of Kentucky, Department of Revenue and Property Valuation Administrator of the county immediately upon election of the city to adopt said assessment. Each year the city shall appropriate and pay to the office of the County Property Valuation Administrator a sum for the use of said assessment as prescribed by law.
(Prior Code, § 35.03) (Ord. 2011-08, passed 8-22-2011)