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Opponents of the new law say local communities will be impacted by the loss of revenue generated by the tax that helps fund essential services. They've also criticized industry officials for asking for a tax break while reporting historic growth and revenue.
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Kentucky's legislature voted to completely phase out the property tax on the value of barrels of aging spirits. The action — taken in the final hours of this year's session — was toasted by the booming bourbon industry but left a bitter taste among some local leaders whose communities rely on the tax money.
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As time runs out on this year’s Kentucky General Assembly, one bill still in flux would repeal a longstanding state tax on spirits aged in barrels. That effort has pitted a group representing the Kentucky bourbon industry against many local officials who say the revenue generated by the tax is too important to give away.
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More than 25 counties in the commonwealth stand to lose millions of dollars in revenue that goes toward libraries, schools, and emergency services from property taxes generated by the bourbon barrel tax.