LOUISVILLE, Ky. — Increasing housing prices lead to higher property taxes, but it's not official until the Jefferson County Property Valuation Administrator decides what the land and buildings are worth.
Their yearly reassessments begin Friday, moving east of I-65 after last year's look at the West End.
In its report, the property valuation administrator assessed three different areas.
Areas 2, 3 and 7 were reassessed as part of a plan to assess all properties in the county at 100% fair cash value. The assessments are required by state law and happen every four years.
The specific neighborhoods in that assessment included Indian Hills, Butchertown, Crescent Hill, St. Matthews, Germantown, the Highlands, Hikes Point, Audubon Park, Klondike, Jeffersontown, Fisherville, Hopewell, Fern Creek, Seatonville and Glenmary.
A reassessment notice will be mailed to commercial and residential property owners on April 26 if their assessment value has changed. Nearly 100,000 notices will be mailed starting at noon on Friday.
Officials said the assessments form a basis for taxes levied by the state, cities and other taxing authorities. These taxes help fund schools, fire departments and other essential services.
Here's a breakdown of the total sales, lows, highs and medians of each area:
- Area 2 - Total sales: 1,182, Low: $55,000, High: $2.5 million and Median: $281,750
- Area 3 - Total sales: 771, Low: $105,000, High: $2.54 million and Median: $385,000
- Area 7 - Total sales: 1,901, Low: $106,000, High: $1.79 million and Median: $290,000
Officials said this year's commercial assessment had over 6,900 parcels in areas 2, 3 and 7. This included retail, industrial, multifamily, restaurant, office, entertainment, hotels and vacant land.
"I hope that at some point in the near future the legislature will entertain looking at some solution to erratic real estate markets that will be a fair and equitable way for assessing properties so that taxpayers will not be at risk of problems paying their tax bill," Jefferson County property valuation administrator Colleen Younger said.
Any property owner who wants to appeal their property has to contact the Jefferson County Property Valuation Administrator online here. Property owners who don't agree with their property assessment have to provide documentation to support why they don't agree.
You have a right to appeal from April 26 through May 20. Over the years, people have appealed their assessments but officials said those appeals have dropped by 2%.
In-person assistance is available at the PVA office during usual hours, with Saturday appointments available on May 11 and May 18. Call (502)-574-6224 to make an appointment.
Several Louisville Free Public Libraries (LFPL) will host PVA staff for in-person help, too.
- On April 26, the Jeffersontown, Highlands/Shelby Park and St. Matthews branch libraries offer help from 12 p.m. to 4 p.m.
- From April 29-May 20, the Jeffersontown branch has help from 10 a.m. to 4 p.m. on weekdays.
- The Highlands/Shelby Park branch offers assistance on Monday, Wednesday and Friday from 10 a.m. to 4 p.m.
- From April 30-May 16, the St. Matthews branch has PVA staff to help from 10 a.m. to 4 p.m.
- Evening assistance is available at St. Matthews City Hall on May 7 from 5 p.m. until 7 p.m.
- On May 14, Jeffersontown City Hall is hosting a PVA help session from 5 p.m. to 7 p.m.
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