KRS 133.150: Equalization of county or district assessments by Department of Revenue.

The Department of Revenue shall equalize each year the assessments of the property

among the counties. It shall compare the recapitulation of the property valuation

administrator's books from each county with the records of sales of land in such county or

with such other information that it may obtain from any source and shall determine the

ratio of the assessed valuation of the property to the fair cash value. The Department of

Revenue shall have power to increase or decrease the aggregate assessed valuati on of the

property of any county or taxing district thereof or any class of property or any item in

any class of property. The Department of Revenue shall fix the assessment of all property

at its fair cash value. When the property in any county, or any cl ass of property in any

county, is not assessed at its fair cash value, such assessment shall be increased or

decreased to its fair cash value by fixing the percentage of increase or decrease necessary

to effect the equalization.