KRS 132.690: Annual revaluation of real property -- Quadrennial examination of real

property -- Methods of examination -- Emergency revaluation.

(1) (a) Each parcel of taxable real property or interest therein subject to assessment

by the property valuation a dministrator shall be revalued during each year of

each term of office by the property valuation administrator at its fair cash

value in accordance with standards and procedures prescribed by the

department and shall be examined no less than once every fou r (4) years by

the property valuation administrator.

(b) For any real property upon which any improvements have been made since the

prior examination, the property valuation administrator or his or her deputy

shall perform an on-site, in-person visual examination of the real property and

the improvements. The examination shall be conducted in a manner approved

by the department and for the purpose of gathering any necessary information

related to the characteristics of the real property and the improvement s for

purposes of assessing their value. Any subsequent examination of the real

property for purposes of assessing its value by the property valuation

administrator or his or her deputy shall be performed by:

1. On-site, in-person visual examination;

2. Use of digital imaging technology as defined by the International

Association of Assessing Officers Standard on Mass Appraisal of Real

Property; or

3. Any other examination method approved by the department.

(c) In accordance with standards and procedures prescribed by the department, the

property valuation administrator shall submit an assessment schedule to the

department and shall maintain a record of the examination and revaluation for

each parcel of real property which shall include the inspection dates and any

other relevant information.

(2) The right of any individual to appeal the assessment on his property in any year as

provided in KRS 133.120 shall in no way be affected by this section.

(3) If the property valuation administrator fails to revalue pr operty as required by this

section, the department shall have the authority to order an emergency revaluation

in the same manner as provided for emergency assessments by KRS 132.660. Any

property valuation administrator willfully violating the provisions o f subsection (1)

of this section or who refuses to comply with the directions of the department to

correct the assessment shall have his compensation suspended by the department

and shall be subject to removal from office as provided by KRS 132.370(4) and

shall be subject to the provisions of KRS 132.620 and 61.120.

(4) Nothing in this section shall prohibit action by the department under the provisions

of KRS 133.150 or 132.660 in any year in which the department determines such

action to be necessary.