Property Valuation
The Kentucky PVA's assessment of a property at fair cash value is intended to reflect:
AThe price the county would pay for the property
BThe property's market value as of the assessment date✓ Correct
CThe property's replacement cost only
DThe price at which the owner purchased the property
Explanation
Kentucky law defines fair cash value as the price the property would bring in a fair market transaction, which is equivalent to market value. The PVA assesses at 100% of this value.
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