Sen. Donald Douglas, R-Nicholasville, testifying on Senate Joint Resolution 99
FRANKFORT, KY— Vehicle owners in Kentucky could receive up to $70 million in tax relief under a measure that won unanimous support on the Senate floor Friday.
Senate Joint Resolution 99 would direct state officials to assess taxes on vehicles using valuations from 2021 for the next two years. It also calls on the state Department of Revenue to issue refunds for taxes that have already been paid based on current year assessments.
The resolution’s primary sponsor, Sen. Donald Douglas, R-Nicholasville, said the proposal would help Kentuckians cope with the once-in-a-lifetime jump in vehicle values that occurred during the pandemic.
“This would bring tax relief to Kentucky vehicle owners, to our job creators in the automobile industry as well as to people who own fleets of vehicles,” he said.
Douglas said Kentucky taxpayers are facing financial challenges and it’s incumbent on the legislature to require changes.
“Typically, vehicle values go down from year to year,” he said. “But the director of state valuation said …that overall in 2022 these valuations have increased. And compared to previous years, it is up approximately 40 percent.”
Sen. Jimmy Higdon, R-Lebanon, also spoke on behalf of the bill.
“You know, probably every member of this chamber has received phone calls from back home in their district about this situation,” he said.
Sen. Robin L. Webb, D-Grayson, called it a bipartisan effort.
“This issue is so important that the House and the Senate have both addressed it at the same time. It was one of the first things that we did, and you can see that by the bill numbers and the importance of that,” she said.
The measure passed with a 34-0 vote Friday.
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