Fillable TY OF MURRAY CI TAX MORATORIUM PROGRAM (City of Murray)

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TY OF MURRAY CI TAX MORATORIUM PROGRAM (City of Murray)

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CI
TY OF MURRAY
TAX MORATORIUM PROGRAM
The Tax Moratorium is an economic incentive program providing tax abatement to owners of
rehabilitated residential or commercial properties within the City of Murray Historic Overlay District.
This incentive is in the form of a five year tax moratorium on city real estate taxes on the rehabilitated
portion of the property.
Who is Eligible?
Any individual, group, or corporation
What Properties are Eligible?
Must be within the Historic Overlay District (East to the railroad tracks, West to 7
th
Street; North to Olive
Street and South to Elm Street.
Residential or commercial building must be at least 25 years old
When Should the Owner Apply?
Must apply 30 days before work begins
Are there costs involved?
Yes, there is a $25 application fee. There are no other charges.
What is the Period for Completing the Work?
The owner has two years to complete the rehabilitation.
What Taxes does this Moratorium Effect?
Abatement applies to city portion of taxes only—not school, county, or other.
Where can I get more information about property taxes in general?
Visit www.murrayky.gov/forms/TaxMoratorumProgramForm
or contact the Planning Department at 270-
762-0300 or email planning.department@murrayky.gov.
TAX MORATORIUM PROCEDURE
1. File application with the City of Murray Planning Department with the application fee of $25 no less
than thirty (30) days before starting rehabilitation work.
2. Property Valuation Administrator will assess the property prior to rehabilitation work.
3. Applicant has two years to complete the rehabilitation.
4. Upon completion of rehabilitation, the City of Murray Planning Department will conduct an onsite
inspection of the property and issue a Moratorium Certificate.
5. After moratorium expires in five years, the Property Valuation Administrator will reassess the property
at full fair cash value.
SEND APPLICATION AND APPLICATION FEE TO:
(Please make checks payable to “City of Murray.”)
Planning Department
City of Murray, 500 Main Street, Murray, KY 42071
(270) 762-0300, planning.department@murrayky.gov
Commonwealth of Kentucky
REVENUE CABINET
Department of Property Taxation
APPLICATION FOR ASSESSMENT MORATORIUM CERTIFICATE
County: City: Date Submitted:
1. Name(s) and mailing address of owner-applicant(s) in whose name title is vested:
2. Location and description of property: (Please use additional paper if necessary.)
Commercial Residential
a. Location
b. Age of property
c. General description of property
d. General description of proposed use
e. Time schedule for completion of project
f. If commercial, also list the fixed building equipment and a statement of the economic advantages expected from
the moratorium and construction employment
g. General description of proposed work:
h. Applicant’s estimate of Total Costs of rehabilitation or repair $
i. Applicant’s estimate of fair cash value of property as of the date of application $
AFFIDAVIT AND OATH
I, , hereby swear (affirm) under penalty of perjury that I (we)
am (are) the owner(s) of the property for which this assessment moratorium is sought; and that all information
contained in this application is true and correct.
Signature of Applicant Date
RESERVED FOR OFFICIAL USE
This application is
□ approved □ disapproved
The Application fee has been submitted □ yes □ no
City of Murray Planning Department __________________________________ Date ______________________
Property Valuation Administrator’s Appraisal $__________________________ Date ______________________
NOTE: This form must be filed with the proper administering agency of the City of Murray 30 days prior to restoration
or repair.
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TY OF MURRAY CI TAX MORATORIUM PROGRAM (City of Murray)

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Completed 14 July 2020

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