IRP Update: Kentucky Updated Fee Schedule

The Commonwealth of Kentucky Transportation Cabinet has released a memo stating that Kentucky ad valorem fee conversion factor will change effective January 1, 2019.

Conversion Factor Table and Fee Calculation Example

Example Fee Calculation:

Ad Valorem Fee – Purchase Price ($100,000.00) X Year of Purchase Factor (.00608) = $608.00 X Kentucky Mileage Percentage (.50) = $304.00

Weight Fee – 80,000 Pound Weight Fee ($1,410.00) X Kentucky Mileage Percentage (.50) = $705.00

Total Fee – $304.00+ $705.00 = $1009.00

Note: The ad valorem fee is not applicable to any current year purchase and is not prorated.