(A) Abandoned urban property is established as a separate classification of real property for the purposes of ad valorem taxation. As used in this subchapter, ABANDONED URBAN PROPERTY shall have the same meaning as in KRS 132.012 as now adopted hereafter amended.
(B) The rate of taxation levied upon abandoned urban properties shall be the maximum amount allowable pursuant to § 157 of the Kentucky Constitution.
(C) Code Enforcement shall each year determine which properties in the City are abandoned urban properties and shall prepare and furnish a list of the abandoned urban properties located in the City to the Finance and Administration Department and to the Campbell County Property Valuation Administrator prior to January 1 of each year.
(D) Except as otherwise provided in § 37.003(E), a property classified by Code Enforcement, as abandoned urban property as of January 1 shall be taxed as abandoned urban property for such tax year. If the owner repairs, rehabilitates or otherwise returns the property to productive use so that the property is no longer abandoned urban property, he or she shall notify Code Enforcement, which shall, if it finds the property is no longer abandoned urban property, notify the Finance and Administration Department and the Campbell County property Valuation Administrator to strike the property from the list of abandoned properties as of the succeeding January 1.
(E) No later than January 15 of each year, Code Enforcement shall mail, by first-class mail, to the owner(s) of each abandoned urban property, as those name(s) are listed in the records of the Property Valuation Administrator, a notice that this property has been classified as abandoned urban property. The owner of any abandoned urban property who believes that his or her or its property has been incorrectly classified may appeal the classification to the Vacant Properties Review Commission. The appeal shall be in writing and shall be made no later than April 1 of the year. The Vacant Properties Review Commission shall afford the owner the opportunity for a hearing. If the Vacant Properties Review Commission finds the property was incorrectly classified as abandoned urban property, it shall cause the property to be removed from the list of properties so classified. The Vacant Properties Review Commission shall develop policies and procedures for conducting such appeals.