LOUISVILLE, Ky. (WDRB) — Thousands of homeowners in West Louisville, Old Louisville and southwest Jefferson County are looking at higher property taxes this year following the Jefferson County tax assessor’s revaluation of real estate in those areas.
Property Valuation Administrator Colleen Younger said 84,502 parcels of real estate, including about 76,000 residential properties, received updated tax values for 2023.
The new tax values are generally in MLS areas 1 and 4, but some properties outside of those areas will also be subject to an updated assessment if they were sold in an arms-length transaction or received a building permit for an addition or improvement, she said.
This map shows MLS areas 1 and 4 of Jefferson County, which were subject to reassessment in 2023 by the PVA's office.
Younger could not quantify the typical increase in tax value in the reassessed areas, saying it varies greatly by neighborhood. In general, property owners should expect an increase, which reflects the tight real estate market, she said.
“Values typically can be all over the place, but we will say that there is a substantial increase in both of the areas and it is due to the robust market and the higher prices that are coming from these bidding wars,” Younger said during her annual “State of the Real Estate” news conference.
The PVA is mailing letters to property owners about their new assessments, and owners will be able to look up the 2023 values via the PVA’s website beginning at noon Friday.
The PVA assessments are a key input when determining property tax bills, which are generated each November and due by Dec. 31. Taxing districts such as Louisville Metro, Jefferson County Public Schools and suburban fire departments set their tax rates as a percentage of the property value determined by the PVA.
If owners think the PVA is incorrect about the fair cash value of their property, they have until May 15 to appeal.
Details on how to do that are here:
