AN ACT relating to an ad valorem tax exemption for motor vehicles.

HB 60 exempts certain motor vehicle property taxes in Kentucky. It provides refunds for vehicle owners who paid state taxes on valuation increases from January 1, 2021, to January 1, 2022 (with refunds processed automatically within 90 days). Starting January 1, 2026, all motor vehicles assessed under KRS 132.485 will be exempt from state ad valorem taxes. This applies only to state taxes - local taxes and usage taxes under KRS 138.460 remain unchanged. The bill directly affects vehicle owners who paid overtaxed amounts in 2022 and all vehicle owners after 2026.