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 his assessing personnel.
The PVA office collects data and obtains information about real property from several different sources:
The City and County Planning and Zoning offices provide a list of permits as they are issued. These have all improvements such as additions, garages, multiple dwellings (duplexes, apartments, condos), pools and manufactured home placements
Electrical Inspectors provide a list of permits. On-site visual inspections such as required for quadrennial plan and physically checking each parcel for improvements.
The Department of Property Valuation provides a listing of mobile home transfers.
Manufactured home parks are required by law to fill out forms yearly that list owners names and information on the home.
A deputy PVA (Field Representative) is responsible for going to the site, listing all improvements, measuring all structures and taking photos of said improvements. Interior specs are gathered from discussion with the owner.