Frequently Asked Questions

What requires that property be revalued?
The Kentucky Constitution. The Kentucky Department of Revenue monitors and enforces compliance with this law. All property must be revalued each year and must be physically examined at least once every four years.

Why does appraised value change from year to year?
When the market changes, so does assessed value. For instance, if you were to increase the total market value of your property by building an addition, the assessed value would increase proportionately. Similarly, should your property's value be decreased by fire, the assessed value will decrease to reflect the downward effect on your property's market value. The entire community's economy and forces of supply and demand will also affect your property's appraised value.

*The PVA does not create the value. People make their own property values by their transactions in the marketplace. The PVA simply has the responsibility to study those transactions and assess the property accordingly.

Why are some assessments unequal?
This is the most common situation.

(Sold 11 years ago)

(Sold 7 years ago)
  1. A property sells and the actual sale price is used to set the assessed value.
  2. Similar property, often located in the same neighborhood, has not sold in many years. It has an older assessment that is not as high as the "fair market value" established by the property that sold.
  3. The properties are equal, but the assessments are not.

(Sold 4 years ago)

(Sold last year)
Bracken County Property Valuation Administrator's Office

What exemptions are homeowners eligible for?
Section 170 of the Kentucky Constitution grants taxpayers the right to file for homestead exemption. Under the provisions of the Homestead Exemption, a person or persons must be 65 years of age or older or totally disabled, and must own, occupy and maintain a residential unit for such exemption. The Homestead Exemption saves the taxpayer about $280 for 2011 off of their property taxes. This amount changes slightly from year to year. If you have any questions about these exemptions, please call or stop the PVA Office.

What are MY rights and responsibilities?

It is the property owner's responsibility to make sure the PVA Office has the correct mailing address listed for each of your properties. The Sheriff mails the property tax bills at the end of October. If you don't get your bill by the first week in November, then we may have your mailing address wrong in the PVA Office. We make many attempts to find and change addresses, but the best way to ensure that you get your tax assessment notices and tax bills is to call or stop by and make sure we have your current address.

If your opinion of the value of your property differs from the PVA, then come to the office and discuss the matter. If the information we have on your property is incorrect or needs to be updated, we will also update the value. We will answer any questions about appealing your assessment to the local board of appeals, if we can't come to an agreement on a value.

Appeals Information

How is the amount of tax determined?
The amount of property tax you pay is determined by a tax rate applied to your property's assessed value. The tax rate is determined by all the taxing agencies such as County Governments, City Governments, and School Boards. If the tax rate remains the same, your taxes will:

  • Not change if your assessed value remains the same.
  • Increase as your assessed value increases.
  • Decrease as your assessed value decreases.
CALCULATION: Taxes = Assessment x Tax Rate

Tax Calculator

*Remember:The PVA office does not have anything to do with the total amount of taxes collected. The PVA office does not set the tax rates. Our job is to make sure all property is assessed at 100% fair market value.

*Failure to receive an assessment notice or tax bill is not grounds for non-payment of taxes.

© 2011 by The Todd County PVA &