Legislation that would set property tax values on vehicles at 2021 levels has made it out of a state House committee.
Representative Myron Dossett of Pembroke says House Bill 6 made it through the Appropriations and Revenue Committee that he serves on Tuesday morning and it now heads to the full House floor.
Taxable values on automobiles have increased by an average of 40% this year in Kentucky due to the cost of used cars rising with inflation and other factors.
Representative Dossett believes the Governor’s Department of Revenue misinterpreted the law when it increased those tax bills dramatically.
If the legislation becomes law, anyone who has already paid their vehicle taxes this year will be reimbursed the difference.
House Bill 6 is not the bill Representative Dossett filed earlier in the session, but he says it accomplishes the same goal and he’s happy to support it.