{"data":{"id":"us-ky/krs-133.250","jurisdiction":"us-ky","citation":"KRS 133.250","heading":"Sales -assessment ratio studies -- Revaluation of property -- Publication in","body":"each county of the percentage of fair cash value attainment -- Underassessment\naudit.\n(1) The department shall conduct sales -assessment ratio studies for each county and\nshall submit the ratio to each property valuation administrator by September 1 of\neach year or within thirty (30) days of submission of the property valuation\nadministrator's final recapitulation to the department as provided for in KRS\n133.125, whichever date is later. Randomly selected sample appraisals shall be\nconducted by the department for each class of real property in each county no less\nthan once every two (2) years to supplement sales data used in the assessment ratio\nstudy and to verify and enhance th e statistical validity of the ratio study in\ndetermining measures of central tendency and variation.\n(2) The property valuation administrator shall begin revaluation of property in his or\nher county, in preparation for the following year's property assessment, immediately\nfollowing submission of the final recapitulation to the department as provided for in\nKRS 133.125.\n(3) By January 30 of each year, the department shall cause to be published in the\nnewspaper of largest circulation in each county, a listing  of the percentage of fair\ncash value attainment of real property assessments as calculated by assessment ratio\nstudies which shall be conducted by the Department of Revenue.\n(4) The department shall conduct a special audit to determine the presence or abs ence\nof chronic underassessment, as defined in KRS 132.486, in any county for which\nthe sales -assessment ratio studies conducted under the provisions of this section\nindicate a ratio below eighty percent (80%) for two (2) consecutive calendar years.\nThe audit may be conducted through the use of randomly selected sample appraisals\nor other means reasonably calculated to present an accurate determination of\nassessment practices in the county.","path":["KRS Chapter 133"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=28362","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:25Z","sha256":"42f95841afa079872ba5fcb30b90bb2907d2f847fdaafaae74b1cb7782e1b394","source_id":"us-ky","stale":false,"prev":"us-ky/krs-133.240","next":"us-ky/krs-133.990"},"notice":"GroundRules: Original legal text. Not legal advice."}