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Opportunity to Reduce Kentucky Real Property Taxes Starts May 7th & Ends May 20th
Posted in Tax and Finance

Each owner of real property in Kentucky has the opportunity to reduce their real property tax assessment by challenging the local county Property Valuation Administrator’s tax assessment value of each parcel. This can be done starting on (and sometimes before) May 7th.

If an owner thinks that their tax assessment is not correct because the property’s value is overstated, then the owner or their authorized representative (e.g., a BGD tax attorney, such as Mark Loyd) must contact the PVA and schedule a conference. This can be done regardless of whether or not the PVA increased the value of the property. This must be done by or before May 20th. Now is the time to act.

Each $1,000,000 in value equates to approximately $12,000 in annual Kentucky state and local ad valorem property tax. So, it’s relatively straightforward to decide whether an appeal might be worth it.

Each county PVA’s process may differ. In Jefferson County, an in-person conference can be scheduled or it can be done by completing an online appeal form. Mark Loyd or Mike Grim can assist at any point in the process:  [1] appealing to the county PVA in all 120 Kentucky counties; [2] appealing from the PVA to the local county Board of Assessment Appeals; and, [3] appealing from the BAA to the Kentucky Board of Tax Appeals. Be aware of the appeal deadlines.

Please contact us if we can assist.

To learn more about Mark A. Loyd and his practice, visit his profile.

  • Partner

    As a Partner and Chair of the Firm’s Tax and Employee Benefits Department, Mark’s practice focuses on resolving clients’ state, local and federal tax issues through planning, audit management, administrative protest ...

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