McCreary County Property Valuation Administrator
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© 2014 by The McCreary County PVA &
General Information THE ASSESSMENT PROCESS Section 172 of the Kentucky Constitution requires all property be assessed at its Fair Cash Value.  The assessment date is January 1 of  each year.  Fair Cash Value is defined as the price a property would bring at a voluntary sale between a willing seller and a willing  buyer. The PVA or designated deputy will physically examine assessed property at lease once every four (4) years. THE APPEALS PROCESS Any taxpayer desiring to appeal an assessment on real property made by the PVA, shall first request a conference with the PVA or  designated deputy. Appeals Information ASSESSMENT METHODS The PVA may use several methods for assessment, including, but not limited to, replacement cost, income approach and sales  comparison.  The McCreary County PVA Office does not use any assessment method not approved by the International Association of  Assessing Officers (IAAO).  MOTOR VEHICLES The PVA does not set the value of motor vehicles but may adjust the assigned value for things such as having a rebuilt title or high  mileage. REAL PROPERTY Kentucky statutes define real property as land and all improvements thereon, including mobile homes, manufactured houses,  prefabricated buildings, as well as recreational vehicles and campers under certain conditions.  This does not include normal motor  vehicles, boats or tangible property. TANGIBLE PROPERTY Tangible personal property is physical property, usually moveable, that has value and utility in and of itself.  Examples: office equipment, trade tools, fixtures, inventory, etc.