Kentucky Statutes 132.690 – Annual revaluation of real property — Quadrennial examination of real property — Methods of examination — Emergency revaluation
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(1) (a) Each parcel of taxable real property or interest therein subject to assessment by the property valuation administrator shall be revalued during each year of each term of office by the property valuation administrator at its fair cash value in accordance with standards and procedures prescribed by the department and shall be examined no less than once every four (4) years by the property valuation administrator.
(b) For any real property upon which any improvements have been made since the prior examination, the property valuation administrator or his or her deputy shall perform an on-site, in-person visual examination of the real property and the improvements. The examination shall be conducted in a manner approved by the department and for the purpose of gathering any necessary information related to the characteristics of the real property and the improvements for purposes of assessing their value. Any subsequent examination of the real property for purposes of assessing its value by the property valuation administrator or his or her deputy shall be performed by:
1. On-site, in-person visual examination;
2. Use of digital imaging technology as defined by the International Association of Assessing Officers Standard on Mass Appraisal of Real Property; or
3. Any other examination method approved by the department.
(c) In accordance with standards and procedures prescribed by the department, the property valuation administrator shall submit an assessment schedule to the department and shall maintain a record of the examination and revaluation for each parcel of real property which shall include the inspection dates and any other relevant information.
(2) The right of any individual to appeal the assessment on his property in any year as provided in KRS § 133.120 shall in no way be affected by this section.
(3) If the property valuation administrator fails to revalue property as required by this section, the department shall have the authority to order an emergency revaluation in the same manner as provided for emergency assessments by KRS § 132.660. Any property valuation administrator willfully violating the provisions of subsection (1) of this section or who refuses to comply with the directions of the department to correct the assessment shall have his compensation suspended by the department and shall be subject to removal from office as provided by KRS § 132.370(4) and shall be subject to the provisions of KRS § 132.620 and KRS § 61.120.
(4) Nothing in this section shall prohibit action by the department under the provisions of KRS § 133.150 or 132.660 in any year in which the department determines such action to be necessary.
Effective: March 21, 2017
History: Amended 2017 Ky. Acts ch. 81, sec. 1, effective March 21, 2017. — Amended
2005 Ky. Acts ch. 85, sec. 219, effective June 20, 2005. — Repealed and reenacted
1990 Ky. Acts ch. 476, Pt. V, sec. 331, effective July 13, 1990. — Amended 1988
Ky. Acts ch. 418, sec. 6, effective July 15, 1988. — Amended 1980 Ky. Acts ch. 319, sec. 4, effective July 15, 1980. — Amended 1979 (1st Extra. Sess.) Ky. Acts ch. 25, sec. 9, effective February 13, 1979. — Created 1960 Ky. Acts ch. 186, Art. I, sec. 16, effective December 4, 1961.
(b) For any real property upon which any improvements have been made since the prior examination, the property valuation administrator or his or her deputy shall perform an on-site, in-person visual examination of the real property and the improvements. The examination shall be conducted in a manner approved by the department and for the purpose of gathering any necessary information related to the characteristics of the real property and the improvements for purposes of assessing their value. Any subsequent examination of the real property for purposes of assessing its value by the property valuation administrator or his or her deputy shall be performed by:
Terms Used In Kentucky Statutes 132.690
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appraisal: A determination of property value.
- Department: means the Department of Revenue. See Kentucky Statutes 132.010
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Real property: includes all lands within this state and improvements thereon. See Kentucky Statutes 132.010
- Year: means calendar year. See Kentucky Statutes 446.010
1. On-site, in-person visual examination;
2. Use of digital imaging technology as defined by the International Association of Assessing Officers Standard on Mass Appraisal of Real Property; or
3. Any other examination method approved by the department.
(c) In accordance with standards and procedures prescribed by the department, the property valuation administrator shall submit an assessment schedule to the department and shall maintain a record of the examination and revaluation for each parcel of real property which shall include the inspection dates and any other relevant information.
(2) The right of any individual to appeal the assessment on his property in any year as provided in KRS § 133.120 shall in no way be affected by this section.
(3) If the property valuation administrator fails to revalue property as required by this section, the department shall have the authority to order an emergency revaluation in the same manner as provided for emergency assessments by KRS § 132.660. Any property valuation administrator willfully violating the provisions of subsection (1) of this section or who refuses to comply with the directions of the department to correct the assessment shall have his compensation suspended by the department and shall be subject to removal from office as provided by KRS § 132.370(4) and shall be subject to the provisions of KRS § 132.620 and KRS § 61.120.
(4) Nothing in this section shall prohibit action by the department under the provisions of KRS § 133.150 or 132.660 in any year in which the department determines such action to be necessary.
Effective: March 21, 2017
History: Amended 2017 Ky. Acts ch. 81, sec. 1, effective March 21, 2017. — Amended
2005 Ky. Acts ch. 85, sec. 219, effective June 20, 2005. — Repealed and reenacted
1990 Ky. Acts ch. 476, Pt. V, sec. 331, effective July 13, 1990. — Amended 1988
Ky. Acts ch. 418, sec. 6, effective July 15, 1988. — Amended 1980 Ky. Acts ch. 319, sec. 4, effective July 15, 1980. — Amended 1979 (1st Extra. Sess.) Ky. Acts ch. 25, sec. 9, effective February 13, 1979. — Created 1960 Ky. Acts ch. 186, Art. I, sec. 16, effective December 4, 1961.