Real Estate Appeals Process
What is your property Really Worth?
It is the estimated value that a willing buyer would pay and a willing seller would accept; in other words, fair market value.
How can I estimate the fair market value of my property?
Check the newspaper for real estate transfers of similar properties.
- Check your homeowner's insurance policy for replacement cost.
- Get a current appraisal
The PVA does not create value!
The PVA office does not create value. People set the value by their transactions in the market place. The PVA office simply has the legal responsibility to study those transactions and assess your property fairly. Nor does the PVA determine how much tax you pay. We determine the fair market value of property and the elected officials such as County Fiscal Court, City Government and School Boards set the tax rates.
Kentucky Constitution and KRS 132.40
The constitution and statute, which is enforced by the Kentucky Revenue Cabinet, requires that all properties be assessed at fair market value. All properties must be re-assessed each year and must be physically examined at least once every four years.
Appeals Process
If you feel your assessment is not accurate, you should do the following.
Set up a conference with the PVA or Deputy to discuss the matter during the annual inspection period, beginning the first Monday in May and running thirteen consecutive days. Bring evidence to support your claim such as an appraisal, comparable sales information, and a copy of your insurance policy, cost of construction or proof of structural damage.
If you and the PVA or Deputy cannot come to a mutual agreement on your assessment, you may file an appeal with the County Clerk and present your evidence to the Local Board of Appeals. Appeals must be filed by the end of Tuesday following the close of inspection period.
Homestead and Disability Exemptions
If a person is 65 years old or older, owns and resides at the property, he or she can receive a deduction on their city and county tax bill. This exemption will be given on the property they reside in as of January 1 of that particular year.
If a person is totally disabled for the entire year and he or she owns and resides at that property, as of January 1 of that year, they should apply for the exemption in the month of December.
You should contact this office to see if you qualify for either of these exemptions
We are trying to treat every citizen in Daviess County fairly and with respect.