I received a tangible tax bill. What is it for? How did you come up with that figure?

Your tangible tax bill is based on your Kentucky Tangible Return, Form 62A500, which you file in our office by May 15 of each year.

The calculated tax is based on the reported value you listed on the return. Tangible property is self-declared.

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1. I received a tangible tax bill. What is it for? How did you come up with that figure?