(A) There is hereby levied an ad valorem tax of $0.20 for every $100 of the assessed valuation of motor vehicles having a taxable situs in the city as of January 1, 1985, and for each year thereafter as listed in the Tax Assessment Ledger compiled by the County Property Valuation Administration.
(B) All monies collected from the tax levied in this section shall be paid into the City General Fund to be used for the payment of proper expenditures as determined by the City Council.
(C) In accordance with KRS 132.487 and 134.800, the tax shall be assessed under a centralized tax system and collected by the County Clerk. It is further provided that for the collection of this tax on behalf of the city, the County Clerk shall be paid 4% of monies collected on vehicle taxes. Payment to the city by the Clerk shall be as governed by KRS 134.815.
(D) This section shall be in full force and effect from and after its proper passage and publication as required by law.
(Ord. 593, passed 10-8-1984; Am. Ord. 818-17, passed 9-11-2017)