Make Ends Meet: Understanding new PVA assessments

The Jefferson County PVA oversees assessing all our property. Both real, meaning land and anything on it, and personal, like your home or automobile.
Published: May. 10, 2023 at 9:01 PM EDT
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LOUISVILLE, Ky. (WAVE) - The Jefferson County PVA oversees assessing all our property. Both real, meaning land and anything on it, and personal, like your home or automobile.

Our constitution says taxes must be assessed fair and uniform across the city. Those living in Southwest and West Louisville are probably aware property taxes in those areas are being reassessed right now.

For most, the reassessment will mean a much higher tax bill in November.

The taxes we pay the PVA go to fund our schools, our fire districts, and other projects throughout our community.

Colleen Younger was elected Jefferson County Property Valuation Administrator in 2018. Her team has been holding meet and greets with the public, as well as holding office hours, online conferences, and telephone calls with anyone who has questions or concerns with their updated property taxes.

“The value of your home is typically your most important asset,” stressed Younger.

Younger explained all real property is subject to being revalued every year and all real property parcels must be physically inspected by the PVA office no less than once every four years.

“It is the law,” exclaimed Younger.

The updated assessments will be in areas one which includes Louisville’s West End neighborhoods as well as Old Louisville and downtown and area four which is western and southwest Jefferson County, covering Pleasure Ridge Park, Shively, Valley Station, Lake Dreamland, and Valley Village. You should have already received a 2023 property assessment notice postcard listing your updated assessed taxable value.

“It is a substantial increase,” explained Younger. “With a higher property value, you’re going to get a higher tax bill in November.

It is not something you can ignore or forget. Not paying the tax bill could result in the loss of your home. If you think the PVA is incorrect about the reassessed value of your home, you can appeal.

“The appeal window closes on May 15th at four o’clock,” stressed Younger.

The Property Valuation Administrator or PVA looks at the sale of homes in your neighborhood to update the value of your home.

“All of our work is achieved through analyzing sales in the market,” explained Younger.

The PVA does not look inside your home or take any type of assessment of what might be wrong with your home. If you think the reassessment is incorrect or unfair the PVA “wants” you to appeal.

”Photographs tell the story of your home,” shared Younger. “Show us what needs to be fixed. We don’t know if your basement leaks. Those are the things we need to know so we can help you get your value where it should be.”

You have the right to appeal but you do not have a lot of time left to appeal. The deadline is May 15, 2023, at four o’clock in the evening. For those sixty-five and older there is additional help.

“Once you turn 65, if you own a home and you live in that home you are eligible to apply for the homestead exemption,” proclaimed Younger.

The amount of the homestead exemption is recalculated every two years to adjust for inflation, but the savings is great if you qualify

“This year 46,350 dollars,” shared Younger. “So, if your home is valued at $146,350 you would only have to pay tax on $100,000!”

There is also a disability exemption with savings that mirrors the homestead exemption.

“You’ll fill out the disability exemption and then you’ll qualify for the same savings on your tax bill as the disability exemption as the homestead,” explained Younger.

If you think the reassessed value does not represent the fair market value of your property you have the right to appeal, click or tap here.