Pursuant to KRS 92.305 and 132.012 there is hereby established an ad valorem real property tax on the assessed value of all abandoned urban property within the taxing jurisdiction of the Lexington-Fayette Urban County Government as of the January 1 assessment date of each year, in addition to all other ad valorem taxes. The ad valorem tax levied upon such abandoned urban properties shall be an additional one dollar ($1.00) on each one hundred dollars ($100.00) of the assessed valuation of the real property as of the January 1st assessment date, but in no instance shall it exceed the maximum tax rate allowable by law.
(Ord. No. 138-2009, § 1, 7-7-09; Ord. No. 104-2014, § 1, 9-11-14)