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AD VALOREM TAXES
(A) Pursuant to the authority granted in KRS 132.285, the city hereby adopts the Ballard County assessment for all real and personal property situated within the city as the basis of all ad valorem tax levies ordered or approved by the City Council.
(B) The assessment as finally determined for county tax purposes shall serve as the basis for all city levies for the fiscal year commencing after the assessment date.
(Ord. 652, passed 11-10-21)
(A) All taxes, except ad valorem taxes on motor vehicles, shall become due on December 1.
(B) Any taxpayer who pays his or her city taxes before December 1 after they become due shall be entitled to a 2% discount thereon, and the Clerk-Treasurer shall allow the discount and give a receipt in full to the taxpayer.
(Ord. 652, passed 11-10-21)
(A) All city taxes, except ad valorem taxes on motor vehicles, shall become delinquent on January 1 following their due dates.
(B) Any taxes not paid by the date when they become delinquent shall be subject to a penalty of 10% on the taxes due and unpaid. Also, any taxes not paid by the date when they become delinquent shall be subject to interest in the amount of 0.5% on the taxes due and unpaid, which interest shall accrue monthly from and after the delinquency date until such time that the unpaid taxes, together with the accrued penalty and interest, are fully paid. All costs, such as filing, court, lawyer fees, serving charges, if by a sheriffs department or registered mail, or any other costs that may be incurred, shall be added to the delinquent tax amount. An additional $25 will be added to the total tax bill as a processing charge.
(C) Delinquent taxes shall be collectable under the provisions of the state law relating to the collection of delinquent taxes by cities of the fifth class.
(Ord. 652, passed 11-10-21)
(A) All ad valorem taxes on motor vehicles shall be collected by the Ballard County Clerk in accordance with KRS 134.800.
(B) Ad valorem taxes on motor vehicles shall become due and delinquent as set forth in KRS 134.810 and any such taxes not paid by the date when they become delinquent shall be subject to the penalty and interest specified in KRS 134.810.
BANK FRANCHISE AND LOCAL DEPOSIT TAX
(A) Tax rate. There is hereby imposed on all financial institutions, as defined in KRS Chapter 136, located within the corporate limits of the city, a franchise tax at the rate of 0.020% on all deposits, as defined in KRS Chapter 136, maintained by such financial institutions.
(Ord. 520, passed 5-6-97)
(B) Collection. For all tax years subsequent to the 1996 tax year, the following timetable is hereby established:
(1) The city will issue tax bills to financial institutions no later than December 1 of each year.
(2) Payment of the tax shall be due with a 2% discount by December 31 of each year, or without the discount by January 31 of each year.
(C) Lien. The city shall have a lien for taxes upon any and all property subject to the tax imposed by these sections, which lien shall be superior to all encumbrances prior or subsequent.
(D) Delinquency. All taxes due in accordance with these sections which are not paid before January 31, for all tax years, shall be deemed delinquent, and shall be subject to a penalty of 10%, and shall bear interest at the rate of 2% per annum.
(E) Tax use. All moneys collected pursuant to these sections shall be paid into the general fund of the city to be used for the payment of proper expenditures as determined by the City Council.