Session of 1999
HOUSE BILL No. 2186
By Representative Edmonds
9 AN ACT relating to property taxation; concerning the valuation of vessels
10 for such purposes.
12 Be it enacted by the Legislature of the State of Kansas:
13 Section 1. (a) The value for property tax purposes of any vessel, as
14 defined by K.S.A. 32-1102, and amendments thereto, which is acquired
15 or sold after January 1 and prior to September 1 of any taxable year shall
16 be equal to the value determined therefor pursuant to K.S.A. 79-503a,
17 and amendments thereto, multiplied by: (1) In the case of a sale, a fraction
18 the numerator of which is the number of months, or major portion
19 thereof, such vessel was owned by the record owner thereof during the
20 taxable year in which such vessel was sold, and the denominator of which
21 is 12; and (2) in the case of an acquisition, a fraction the numerator of
22 which is the number of months, or major portion thereof, remaining in
23 the taxable year after the date of acquisition by the record owner thereof,
24 and the denominator of which is 12.
25 (b) Notice of the acquisition or sale of any such vessel shall be pro-
26 vided by the record owner thereof to the appropriate county appraiser
27 within 30 days after such acquisition or sale. Upon receipt of such notice,
28 and after computation of the value of any such vessel in accordance with
29 the provision of subsection (a), a notification or revised notification of
30 value shall be mailed to the taxpayer.
31 (c) Vessels acquired after September 1 of a taxable year shall not be
32 subject to assessment and taxation for such year, except as provided by
33 paragraph (1) of subsection (a).
34 (d) The provisions of this section shall apply to all taxable years com-
35 mencing after December 31, 1998.
36 Sec. 2. This act shall take effect and be in force from and after its
37 publication in the statute book.