General Information Appeals Process for Real Property Assessments Section 172 of the Constitution of Kentucky requires that all property be assessed for taxation at its fair cash value. The assessment date is January 1 of each year. The fair market value is defined as the price a property would bring between a willing buyer and a willing seller in a reasonable market time frame. When a value of real property changes from the previous year's assessment, the Property Valuation Administrator is required to send the property owner a notice of change. When property owners disagree with the new assessed value, the first step in the appeals process is to schedule a conference with the Property Valuation Administrator or Deputy. A property owner must schedule a conference prior to the end of the tax roll inspection period. This affords the property owners the opportunity to review all assessments for the current year. The tax roll inspection period is normally scheduled to begin the first Monday in May and continue for 6 days per week for the next two weeks and ends the third Monday in May. Sometimes this schedule may be adjusted if reassessment work in a particular county requires extra time. Next Page

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