(A) The city elects to use the annual Rockcastle County assessment for property situated within the city as a basis for city ad valorem taxes. (Ord. 339, passed - - ; Am. Ord. 6-99, passed 9-17-99; Am. Ord. 6-2000, passed 9-18-00)
(B) Homestead exemption. Any person making application and qualifying for the homestead exemption as set forth in KRS 132.810 shall, before payment of his or her property tax bills for the year in question, be entitled to a full or partial exoneration, as the case may be, of the property tax due to reflect the taxable assessment after allowance for the homestead exemption. Any person making application and qualifying for the homestead exemption as set forth in KRS 132.810 shall, after property tax bills have been paid, be entitled to a refund of the property taxes applicable to the value of the homestead exemption.
(KRS 132.810(4))