Real property is defined as land and any permanent structures attached to it. All real property commonly known as real estate is assessed. KRS.132.690 states that each parcel of taxable real property or interest therein subject to assessment by the property valuation administrator shall be assessed annually by the PVA at its fair cash value in accordance with standards prescribed by the Revenue Cabinet. Real property shall be physically examined no less than once every four years by the PVA or assessing personnel.
All individuals and business entities who own, lease, or have a beneficial interest in taxable, tangible property located within Kentucky on January 1 must file a tangible property tax return.
The taxable status of tangible personal property in Kentucky are the counties where the property is physically located.
Tangible Property Filing Requirements:
- Owners need to file a return for each taxing district within Kentucky.
- The return must include the property location by street address and county. A post office box is not acceptable as the property address.
- File the return between January 1 and May 15.
- Do not enclose the tangible return with the income tax return.
- File the return with the PVA in the county of taxable status or with the Division of State Valuation.
- There is no extension for this return.
- The taxing districts within Grant County are: 01, 02, 03, 04, 05, 06, and 07.
Do not send payments with your return. The Sheriff in each county mails the tax bills. Returns filed after May 15 are considered omitted and will be billed by the Division of State Valuation. Please contact us with any question or concern that you may have regarding your tangible tax return.
MOTOR VEHICLE PROPERTY
All automobiles, trucks, boats, boat trailers, motorcycles, and recreational vehicles must be assessed as of January 1 of each year in the county of situs.
Motor vehicles are assessed through a centralized system supported by the Automated Vehicle Information System (AVIS). The Kentucky Transportation Cabinet maintains AVIS, which contains ownership records and various facts on motor vehicles. Information is entered and maintained through online computer terminals located in each County Clerk’s office and in each PVA office. Anyone who registers a vehicle with the County Clerk is also listing the vehicle with the PVA office for property tax purposes. Boats and Recreational Vehicles are included in the AVIS system and are registered in the same manner as other motor vehicles. This registration process leads to a property assessment based on values determined by a standardized market approach.
The PVA office uses standardized guides, provided by the Department of Revenue, to determine the value of a vehicle or boat. The PVA may adjust values based upon the condition of the vehicle on the assessment date of the tax year. Adjustment for
The PVA may adjust values based upon the condition of the vehicle on the assessment date of the tax year. Adjustment for condition may be one or a combination of the following:
- Vehicle had high mileage on January 1
- Vehicle had been wrecked and damage was not repaired prior to the assessment date
- Vehicle value includes options that the owner’s vehicle does not possess
- Vehicle has a salvage title on January 1 of the tax year
Documentation is required in order to reduce an assessment. All protests of value must be filed within 45 days of the date of notice. Documentation is not required in order to correct errors in assessment due to an incorrect Vehicle Identification Number (VIN). Exonerations and the correction of tax status and taxing districts are the responsibility of the PVA office. The PVA requires proper documentation from the taxpayer before exonerating or reducing an assessment.
Exonerations and the correction of tax status and taxing districts are the responsibility of the PVA office. The PVA requires proper documentation from the taxpayer before exonerating or reducing an assessment.
We do not set tax rates. Each taxing district controls their own tax rate and must report their tax rate with the County Clerk by early September. The taxing districts such as the Schools, Library and Extension office, decide to either lower, keep or raise their tax rates over the month of August once they have received our Overall assessment level from the state.
**Please feel free to contact us with any further questions or concerns that you may have at 859-824-6511, email Eli at Elliott.email@example.com or by swinging by our office**