LOUISVILLE, Ky. (WDRB) -- Monday was the last day for Jefferson County residents to appeal their new property value assessments, driving many to head out to fight against "ridiculous" changes.
New home builds slowed during the COVID-19 pandemic and it drove up the real estate market. In return, property taxes are now through the roof.
Jefferson County PVA Colleen Younger said Louisville is seeing an increase of 30% in the median value of a home, with some up more than 50%.
As is required by law, several Jefferson County neighborhoods received new assessments. Younger said it was about 110,000 properties ranging all the way from Okolona to Prospect.
I talked to two women who are neighbors and are appealing their assessment. Both say their homes were built in the 1950s so the new value appraised at ~ $25k more is not an accurate representation. If their appeal isn’t approved it could mean $800 more in taxes. @WDRBNews pic.twitter.com/zSyfRJRdaZ
— Monica Harkins WDRB (@MonicaHarkinstv) May 16, 2022
She said she's concerned for fixed income folks, like seniors.
"I have such a feeling of urgency that we have to do something for our seniors and our disabled — for those on fixed incomes — immediately," Younger said.
Last week, Younger joined County Clerk David Nicholson, Sen. Gerald Neal and Reps. Joni Jenkins and Jeff Donohue in asking Kentucky Gov. Andy Beshear to take executive action on surging property values. They want Beshear to freeze property taxes for seniors and those on disability, similarly to how he did with vehicle property taxes earlier this year.
"It is not sustainable, and the next foreclosure crisis could be in our senior population," Younger said Friday. "If we don't do something about this, we are going over a cliff."
However, it's unclear if Beshear has the power to do so. In February, when car values sky rocketed, the General Assembly passed legislation to give Beshear the power to adjust motor vehicle taxes. Now, lawmakers aren't in session.
People wait to appeal a rise in property values at the Northeast Regional Library in Louisville. May 16, 2022. (WDRB Photo)
In the meantime, the PVA offered in-person assistance to help owners appeal their assessments at area libraries. At the Northeast Regional Library on Monday, two women said the increase on their neighboring homes — built in the 1950s — of about $25,000 would amount to an $800 increase in property taxes.
"Taxes have just gone up so high, and people cant afford to keep paying them," Linda Williamson said.
Williamson's cousin, Lillian Peak, lives on her same street and said their homes aren't like some of the other "flipped" St. Matthews homes. Theirs have a lot of the original features still.
"I feel like my throat's been cut," Lillian Peak. "It's really bad."
The PVA office said homeowners who appealed will be notified by mail about the decision.
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