ORDINANCE NO. __________, SERIES 2026
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AN ORDINANCE AMENDING CHAPTER 38 OF THE LOUISVILLE METRO CODE OF ORDINANCES ("LMCO") TO ESTABLISH SUBCLASSIFICATIONS OF REAL PROPERTY FOR PURPOSES OF AD VALOREM TAXATION WITHIN THE URBAN SERVICES DISTRICT.
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SPONSORED BY: COUNCIL MEMBERS PIAGENTINI AND OWEN
WHEREAS, pursuant to 2026 Kentucky Acts Chapter 165, a consolidated local government council may, by ordinance, adopt two distinct subclassifications of real property for purposes of taxation within the portion of the county formerly comprising the city of the first class; and
WHEREAS, Louisville Metro Council desires to adopt two distinct subclassifications of real property for purposes of taxation within the Urban Services District.
NOW, THEREFORE, BE IT ORDAINED BY THE LEGISLATIVE COUNCIL OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AS FOLLOWS:
SECTION I: LMCO Section 38.63 is amended as follows:
? 38.63 RESERVED SUBCLASSIFICATIONS OF REAL PROPERTY WITHIN THE URBAN SERVICES DISTRICT
(A) Pursuant to KRS 67C.147, for purposes of taxation within the Urban Services District, there shall be two subclassifications of real property that shall be designated as land and improvements.
(B) For purposes of ad valorem taxation pursuant to this section the following definitions shall apply:
(1) "Land" means the surface of the earth and its natural resources, exclusive of any human-made structures, cultivated agricultural products, or artificial improvement or alteration to the land.
(2) "Improvements" means any human made addition to or modification of land that enhances the value of the property.
(C) Council may levy a separate ad valorem rate on land and a separate ad valorem rate on improvements within the Urban Services District. The rate levied on improvements may be lower than the rate levied on land. The rate levied on improvements must be sufficient to constitute a bona fide tax levy.
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