KY SB180

Parcels within agricultural or horticultural land tracts that will be converted to residential use as part of planned developments with 10 or more parcels/units retain their agricultural/horticultural tax valuation until a certificate of occupancy is issued for a new structure on that parcel

Property owners must report proposed planned developments to the property valuation administrator within 90 days and notify them immediately when certificates of occupancy are issued

Expands the definition of "agricultural land" and "horticultural land" to include parcels awaiting residential conversion in qualifying planned developments

Amends KRS 132.010, 132.450, and 132.454 to create exceptions allowing continued agricultural assessment for land transitioning to residential development

The property valuation administrator determines whether parcels qualify for the extended agricultural valuation and assesses fair cash value beginning the tax year after occupancy certification