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Mark Hebert
March 2008
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Taxes? What Taxes?

3:19 PM Mon, Feb 12, 2007 |
Mark Hebert

More than 37,000 Kentuckians have recently received some unwanted and unexpected tax bills in the mail.

Kentucky revenue department spokeswoman Jill Midkiff says bills totalling $20.1 million have been sent out since November. The average bill is $534. The bills are for unpaid intangible property taxes dating back to 2001. The intangibles taxes apply only to out-of-state investments like money markets, bonds and Fannie Maes. Most folks who got the bills had no idea they owed more money. 95 people have appealed but most have been quick to pay. Midkiff admits that state government has been lax in collecting those taxes saying some "fell through the cracks". But like the old boat tax notices that created quite an uproar, Midkiff says it's the state's job to collect all taxes due, including those that are up to five years old. She says this will be the last round of intangibles tax bills of any kind because the 2006 legislature abolished all intangibles taxes.




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