Residential Property

The assessment of your residential property is based on the market value as of January 1 of each year.  The Property Valuation Administrator (PVA) gathers property characteristics, sketches and photographs about each property, researches local sales, and utilizes valuation models to determine your property assessment.

Assessments

A team of PVA Assessors locates new and existing properties, measures the improvements using American National Standard Institute standards, gathers property characteristics, as well as exterior perimeter sketches and photographs of all properties.  All Field Assessors and Field Team Representatives carry identification badges and have the legal right per KRS to measure the exterior dimensions of a structure in the absence of the owner.  Assisting them will enhance the PVA's ability to determine accurate assessments.  If you have a question about a Field Assessor or Field Team Representative, please call the PVA office at 859-392-1750.

Value Estimates

The PVA must determine fair and equitable values for a large number of properties. The Assessors utilize a combination of approaches including the sales/market approach, cost approach and income approach, which are then adjusted for each PVA neighborhood using data from valid arm’s-length transactions (valid sales).  The Residential Department is staffed with well trained deputies who review thousands of transfers of residential properties each year to search for valid sales.  In other words, sales in Kenton County determine the value based upon characteristics such as age, location, number of garages, bedrooms and bathrooms of similar properties nearby. To ensure a fair and equitable assessment, the Assessors make adjustments based on things such as quality, condition, and location adjustments.

Performance Analysis

A performance analysis determines whether values are equitable and consistent with the market.  Local PVA assessments are subject to review by the Department of Revenue and must meet certain standards of conformity and equity.

International Association of Assessing Officers (IAAO)

The International Association of Assessing Officers (IAAO) is a professional organization with which several of our team members are associated.  IAAO helps establish the best practices and standards for performing tax assessments, including statistical measures for evaluating the quality of assessment work.

Contact

For additional information that may not be included herein or if you have additional questions about the assessment of your property, please review our Frequently Asked Questions section.  You may also contact Customer Support at 859-392-1750 or email the PVA Office with your questions.