The PVA office is a Kentucky State office with county jurisdiction. The PVA is a locally elected official who is charged with appraising all property, both real and personal, that lies within Calloway County. There are some exceptions, such as public service companies, bank shares, and omitted tangible properties which are valued by the state Revenue Cabinet in Frankfort.
The PVA has the right to change vehicle values according to the January 1 NADA guidelines, for high mileage, or with estimates of repair from a licensed automobile body shop. Please remember that the vehicle is assessed to the owner as of January 1st of each year and it is the condition of the vehicle and mileage that determines value.
The PVA or deputy visits all property at least once every four years as required by law. The PVA has authority to inspect all real property in the county in order to fulfill the requirements of KRS.132.450 (location, identification, and assessment). The 1992 General Assembly passed HB532 which states the PVA may inspect and measure the exterior of buildings, even if the owner is not at home.
The PVA office does not set property tax rates, nor do they collect property taxes. The tax rate is determined by elected officials such as County Government, City Government, School Boards, and taxing entities such as the extension service, soil conservation, water sheds and timber districts, library board, fire districts, and the health and mental health departments. The Kentucky Constitution, Section 172, requires equality and uniformity through fair cash value assessments. Fair Cash Value is defined as the price that a piece of property will bring in a fair voluntary sale between a willing seller and a willing buyer. Each year the Revenue personnel must perform studies on the PVA in each county to determine if constitutional and statutory requirements have been met. The PVA’s tax roll must meet required assessment levels and adhere to required standards of equity before the PVA’s tax roll is accepted, and before tax rates may be set or tax bills can be printed.
All property, unless specifically exempt by the Constitution, is taxable. The Constitution expressly prohibits exemption of any property or persons except those allowed by the Constitution itself. Thus, taxation is the rule and exemption are the exception. Currently, examples of such exceptions are the Homestead Exemption for age 65 and older, Disability for 100% totally disabled individuals, some religious, educational, and governmental properties, etc. Formal application must be made with the PVA office before any exemption can be granted.
PVA responsibilities also include listing assessments of all tangible personal property as of January 1st of each year. Tangible returns must be filed annually by May 15th. Returns post marked after May 15th are forwarded to the Kentucky Department of Revenue, Office of Property Valuation for billing. Statutory penalties of 10% for voluntary listings and 20% for involuntary listings will be applied.