PVA Reassessment? Only if You Ask.

The Jefferson County Property Valuation Administration (PVA) today indicated the government agency is conducting a review of all home values that jumped 30 percent or more during this year’s annual assessment. The PVA review of dramatic increases in home values is a direct result of public outcry throughout the city. A government spokesperson today indicated the property assessment review would not provide an automatic adjustment in assessed value. All homeowners, according to the spokesperson, must file an appeal with the agency in order to receive a reassessment of their property tax valuation, whether their property is part of the agency’s review, or not.

The government spokesperson said the agency would update home value assessments if an irregularity is found, only if the homeowner files an appeal. The spokesperson also indicated that some of the dramatic increases in property values are warranted. Questions remain. What is the purpose of PVA conducting a review of all home assessments that increased by 30% or more, if the review does not trigger an automatic reduction in valuation to effected homeowners? The government agency insisted that all homeowners must file an appeal in order to receive an assessment review and property value adjustment. How are property assessment values growing in Louisville’s stagnant economy? Louisville continues to experience job flight out of the city and reductions in workforce income.

Is this PVA’s attempt to increase city tax revenues to offset the failed attempt to enact the Local Option Sales Tax (LOST)?