In February, Governor Andy Beshear issued an executive order — halting the increase of vehicle property taxes caused by the meteoric rise in value for used vehicles.
House Bill 6 subsequently codified those orders, and required refunds to be issued within 90 days.
Thursday afternoon, Beshear confirmed those refunds are coming much, much sooner.
Beginning next week and over a period of 14-to-21 days, vehicle owners with birthdays in January, February or March and who had already paid in their vehicle taxes will be receiving those tax reimbursements, which were based against the frozen income tax rates.
Beshear said those who typically pay their vehicle property taxes after March have nothing to worry about.
Checks will be issued in batches of $25,000 per day until all refunds are met. Beshear and his officials said the change in tax rate should save Kentucky and its vehicle owners more than $370 million.
