Property Valuation Administrator Ricky Rose addressed the Rotary Club of Whitesburg during a recent meeting held at Pine Mountain Grill in Whitesburg. Rose took office in January with the responsibility of appraising and assessing at the fair market value all property that is in Letcher County. His responsibilities extend to tracking ownership changes, maintaining maps, updating property descriptions, and handling proper exemptions for real property.
He told the Rotarians that one-fourth of the properties in Letcher County are reassessed each year. New home construction and major improvements are required to be reported to the PVA Office. Disputes regarding property value increases are reviewed by a three-member committee made up of individuals from Letcher County.
Property owners turning 65 are eligible for the homestead exemption which would reduce the value of their property by $39,300 for tax purposes, Rose said. He encouraged members who might have questions about the role of the PVA Office to stop by the office and said he or any of his staff will be happy to help.