Property Valuation
In Kentucky, the Property Valuation Administrator (PVA) is responsible for:
ASetting the tax rate for property taxes
BAssessing all real property in the county at 100% fair cash value✓ Correct
CCollecting property tax payments from owners
DIssuing title insurance policies for county properties
Explanation
The PVA (Property Valuation Administrator) in each Kentucky county is responsible for assessing all taxable real and personal property at 100% of fair cash value as required by the Kentucky Constitution. The PVA does not set tax rates or collect taxes.
Related Kentucky Property Valuation Questions
- The principle of substitution holds that:
- The income approach to value is most appropriate for which type of Kentucky property?
- The principle of anticipation in real estate valuation states that:
- The 'highest and best use' principle in Kentucky means the appraiser values a property based on its:
- An appraisal is an estimate of a property's:
- In Kentucky, the property tax rate is expressed in:
- A Kentucky appraiser discovers that a comparable sale was a distressed (foreclosure) sale. The appraiser should:
- 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?
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