ANCHORAGE, KY (WAVE) - For the house and the 10 acres of property Kentucky Governor Matt Bevin purchased earlier this year, an appeals board placed it's value at $1.39 million. That's exactly what the Governor said it was worth, and less than what he paid for it.
The board's decision followed the precise valuation calculated by the appraiser working for Bevin.
The $1.39 million figure is a reversal of the county's original assessment of $2.9 million.
The Board even took the extraordinary step of physically inspecting Bevin's property earlier this week.
Bevin originally paid $1.6 million for the property, that's almost half what the county originally said it was worth.
Bevin's appraiser determined the mansion and the 10 acres of property were worth roughly $200,000 less than what Bevin paid for it.
Mark Sommer, Bevin's attorney, told WAVE 3 News Friday that politics played no role in the appeal, and has high praise for the board members who approved the reassessment.
"I would dismiss that as biased rhetoric for lack of a better term," Sommer said. "I saw no indication of that. As I said, I've had confidence in the board of assessment appeals my whole career."
There is an appeals process that either side could use to take this to the state level. Neither side has indicated they will do that.
Sommer said this new, lower assessment takes effect for the Governor on Jan. 1, 2018. He estimates the governor will be paying the county about $18,000 per year.
Friday night, Attorney General Andy Beshear told press that the AG's office had sent letters and information to the FBI and SEC on any federal issues on the house.