LOUISVILLE, Ky. (WDRB) --  Nearly 70,000 Jefferson County homeowners will see their taxable property values go up this year, while about 29,000 homeowners will have lower assessments, according to Jefferson County Property Valuation Administrator Tony Lindauer’s office.

Most the residential homes and lots getting new assessments are in South Louisville or outside the Snyder Freeway, from just south of Prospect to Dixie Highway.

Those areas were “reassessed” this year, meaning the PVA assigned new values based on nearby sales. The total taxable value of the reassessed area increased about 7.5 percent after the changes, according to Lindauer’s office.

The PVA reassesses portions of the county on a rotating basis each year, but taxable values also change as a matter of course when a home is sold – regardless of whether it is in a reassessment area.

The 2017 assessments for all properties in the county were made public Friday, and homeowners whose values changed will get letters in the mail next week. To check your property’s assessment:

Perhaps the biggest assessment hike -- at least in dollar terms -- was given to the Anchorage mansion owned by Papa John's International founder and CEO John Schnatter and his wife, Annette.

Schnatter's 22,000-square-foot home and the 8-acre lot on which it sits were assessed at $11.2 million -- the highest value of any residential parcel in Jefferson County. The property's previous assessment of $7.6 million hadn't changed since 2012, according to PVA records. The home was built in 1997.  

The assessments will be used later this year to calculate taxes property owed to Jefferson County Public Schools, Metro government, the state and suburban fire districts. The tax bills are sent in November and due by the end of the year.

Property owners have until May 15 to ask the PVA office to reconsider the new assessed value. Lindauer said pictures of an interior of a home would go a long way to convincing his office that the property is not as updated as one down the street that recently sold for a high price.

More information about the process, called “conferencing,” is here: https://jeffersonpva.ky.gov/property-assessment/pva-online-conference/

Lindauer’s office also sets values for commercial property, and this year the reassessment area includes some of the most valuable retail property in the city: the whole portion of eastern Jefferson County north of I-64, including St. Matthews.

The total taxable value in the area increased nearly 20 percent, Lindauer said.

Reach reporter Chris Otts at 502-585-0822, cotts@wdrb.com, on Twitter or on Facebook. Copyright 2017 WDRB News. All rights reserved.