If the Boone County Property Valuation Administration (PVA) has increased the assessed value of your home, the PVA office will send out notices informing property owners of the increase. These are typically mailed out during the month of April. If you disagree with the assessment of your property, you have the right to appeal the assessed value, but must follow certain steps, pursuant to the Kentucky Board of Tax Appeals.
Conference Procedures. You must first schedule a conference with the PVA office during the inspection period. The inspection period begins the first Monday in May and continues for the next two weeks. This inspection period will be advertised in your local newspaper (The Boone County Recorder). At the conference, the PVA or deputy will explain how the new assessment was derived. All information used to reassess the property should be presented to the property owner.
The property owner must be prepared to present evidence supporting their claim of value for the property. Examples include:
*Sales or assessment data from comparable properties
*Income and expense statements for the past accounting properties (Commercial Property)
*Any recent appraisals of the property
*Original construction cost or cost of addition or improvements to the property
*Documentation of insured value
*Asking price information if the property has been recently offered for sale
The conference is usually an informal conference and it is not necessary for the property owner to be represented by an attorney. The PVA office asks that you fill out the following form to assist you in your appeals process. Residential Comparison Worksheet
Usually, an agreement or understanding can be reached between the two parties; however, if no agreement can be reached, the property owner can file an assessment appeal with the county clerk's office.
Filing the Appeal. The PVA must keep written record of each conference held. Upon completion of the conference, the PVA office must give a copy of the written appeal to the property owner which can be used as documentation when filing the assessment appeal with the county clerk.
The property owner must obtain and complete an appeals form from the County Clerk‘s office. The appeals form requires the property owner to provide general information about the property under appeal. Also required is confirmation that a conference was held with the PVA. The property owner must state his or her opinion of the fair cash value of the property and explain why it is too high. After completion, the property owner must then file the appeals form with the County Clerk's office. The County Clerk's office will schedule a hearing and notify all property owners when and where their appeal hearing will be held.
The last date to file an appeal is one working day after the close of the inspection period. For instance, if the inspection period closes on the third Monday of May, then all appeals must be filed in the Clerk's office by the close of business on the third Tuesday in May.
Local Appeal Hearing. The Local Board of Tax Appeals is made up of three property owners that have resided in Boone County for at least five years. One member is appointed by each: Judge-Executive, Fiscal Court, and Mayor of the City of Florence. All members should be knowledgeable about real estate values in the county. They serve a three year term.
The hearings at the local level are informal. Property owners do not have to hire an attorney or professional representative; however, they can have representation if they desire to do so. Any compensated representative of a property owner must be an attorney, a certified real estate appraiser, a Kentucky licensed real estate broker, an employee of the taxpayer, or any other individual possessing a professional appraisal designation recognized by the Revenue Cabinet.
Also, the representative must present written authorization from the property owner which states the professional capacity of the representative and it must also state any personal interests the representative may have in the outcome of the appeal, including any contingency fee arrangements. If the representative is an attorney, any contingency fee does not have to be disclosed.
At the hearing, the PVA will present information in support of the assessment and the property owner must present factual evidence to support his or her claim of value.
A property owner can have a conference with the PVA without providing any documentation but an appeal will be denied if the taxpayer has been asked to present information by the PVA, Revenue Cabinet, or the board, and fails to do so. A decision will not be made immediately by the board. The property owner will be notified by Certified Mail of the board's decision.
State Board of Appeals
If the property owner is dissatisfied with the local board's ruling, an appeal can then be filed at the State level with the Kentucky Board of Tax Appeals (KBTA). An appeal to the KBTA must be submitted within 30 days from the date of the mailing of the ruling notice sent by the local board of assessment appeals.
For more information, visit http://www.kbta.ky.gov
Remember, in the appeal process the first step is to schedule a conference with the PVA office during the inspection period. This MUST be done before any further action can be taken.