Property Valuation
Assessed value in Kentucky is typically set by:
AThe property owner at the time of purchase
BThe county property valuation administrator (PVA)✓ Correct
CThe Kentucky Real Estate Commission
DA licensed appraiser hired by the owner
Explanation
In Kentucky, each county's Property Valuation Administrator (PVA) is responsible for assessing the value of all taxable property for ad valorem tax purposes.
Related Kentucky Property Valuation Questions
- The principle of substitution holds that:
- A Kentucky building has a replacement cost of $350,000 and has depreciated 20%. The depreciated value is:
- The gross rent multiplier (GRM) is calculated by:
- A Kentucky horse farm near Lexington sells for $2,400,000 and has a net operating income of $120,000 per year. What is the capitalization rate?
- A Kentucky appraiser's report must comply with USPAP, which requires the appraiser to maintain:
- In the income approach, capitalization rate (cap rate) is determined by:
- A Kentucky appraisal report that is prepared for a federally related transaction must comply with:
- A Kentucky appraiser is asked to value a Lexington tobacco farm. The most appropriate valuation approach would be:
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →