Kentucky Property Tax Assessment Explained

Reducing Property Taxes Kentucky Property Tax Assessment Explained

The Ins and Outs of a Kentucky Property Tax Assessment

With the state average effective property tax rate of 0.83%, Kentucky is one of the states with low property taxes. This fact makes the Bluegrass State one of the best states for property owners.

Even though the state average property tax rate is relatively low, it’s not a guarantee that your property tax bill will be low as well—that depends on the evaluation of your property.

In this article, you can find all about the Kentucky property tax assessment and property tax appeal process.


What Is a Property Tax Assessment?

The Property Valuation Administrator (PVA) is the official in charge of the evaluation of most real properties in Kentucky. The PVA office revalues each property every year and physically inspects each property once every four years through a mass appraisal.

When the assessors come to your home, they estimate its value considering the:

  • Square footage
  • Neighborhood
  • The market value of neighboring homes
  • Number of floors
  • Number of rooms
  • Permanent installations on the property, including sheds, pools, fountains, gazebos, or solar panels

How Does KY Property Tax Assessment Work?

The Office of Property Valuation (OPV), alongside the Property Valuation Administrator, uses three methods to determine the estimated monetary value of all the property in Kentucky:

  1. Cost approach—The estimated amount it would cost the property owner to replace any installment on the property or other improvements subtracted by the estimated amount of the depreciation
  2. Income approach—The assessors use this approach when assessing properties that generate income. The value is based on the estimated income the property should produce during its lifetime
  3. Sales comparison approach—The so-called market approach uses the value of recently sold properties similar to predict the value of the one they’re assessing

The following properties are exempt from property taxes and assessment in Kentucky:

  • Federally owned property
  • State-owned property
  • County-owned property
  • City-owned property
  • Property owned by a non-profit organization
  • Property in possession of a religious institution
  • Cemeteries
  • Property owned by charities

Useful Tips for Lowering Your Kentucky Property Tax Assessment Value

While you cannot avoid your property’s assessment, there are some methods you can implement that can help lower your property tax bill:

  1. Research the neighboring properties—Information about property tax assessments are available to the general public, which means that you can look into the assessments of the properties around yours. This will give you a clear idea of what your property’s assessment is going to look like and the market value it is going to be compared to
  2. Avoid making home improvements before the assessment—Any constructional changes, renovations, and additions to your property—like sheds, pools, or fountains—increase the value of your property, making your tax bill higher. You should postpone any home improvements to after the assessment takes places
  3. Follow the property tax assessor during the assessment—You can avoid potential irregularities and mistakes that can raise your tax bill by accompanying the evaluator during the process
  4. Show the interior of your property to the assessor—Property evaluation is not done on the house’s interior unless the property owner allows it. The assessor can mistake your high-ceiling one floor for a two-floor house or overlook some interior damages, which would increase your property’s value. It’s in your best interest to allow the assessor to inspect the inside of your property 

Besides using these methods, you can also:

Am I Eligible for Any Property Tax Exemption in Kentucky?

If you need help paying property taxes, the best option is to check your eligibility for property tax exemptions the State of Kentucky offers.

The following table displays the descriptions of the property tax exemptions in Kentucky:

Property Tax Exemption

Description

Homestead Exemption Citizens that are 65 years old or older are eligible for homestead/senior citizen property tax exemption in Kentucky. If you fall under this category, you have to provide proof of age in the form of an ID, birth certificate, driver’s license, or other approved document
Disability Exemption Kentucky residents that are classified as totally disabled under a program authorized by the U.S. government or any public or private retirement system are eligible for property tax exemption. If you are eligible for this exemption, you should provide a birth certificate or driver’s license and a document that verifies your disability

If you’re uncertain about the eligibility criteria, sign up for DoNotPay, and we will easily identify all the ways to lower your property taxes in a few steps.

Not Satisfied With Your KY Property Tax Assessment? File an Appeal With DoNotPay’s Help

Managing property taxes is demanding, even if you have experience with it. Gathering information from various sources, checking whether you meet the eligibility criteria for property tax exemptions, and appealing your assessments can be too much for one person.

Luckily, you have DoNotPay’s assistance. We created the Property Tax product that puts your efforts to a minimum and offers a solution to all your worries regarding property taxes.

Here is how our service works:

  1. Log in to DoNotPay
  2. Choose the Property Tax feature
  3. Answer our chatbot’s questions about your property and yourself

We will create a customized guide that contains all the information you need with regard to your property and location. 

The customized manual will show if you qualify for an exemption and how to get it and provide instructions and deadlines for appealing the property tax assessments.

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