Your home's value goes up, which is great news. Your property taxes? Not so much. If you've received a Notice of Assessment showing a significantly higher valuation than you expected, you're probably wondering if there's anything you can do about it. The answer is yes, and the process is more straightforward than you might think, especially here in Lexington.

Understanding the Problem

An estimated 30 to 60 percent of U.S. residential properties are overassessed, yet fewer than 5 percent of homeowners ever file an appeal. This disconnect happens for a few reasons. First, many people don't realize they have the right to challenge their assessment. Second, they assume the taxing authority always gets it right. Third, they're unsure about what the process actually involves.

Here in Kentucky, the situation is particularly important to understand. Kentucky assesses property at 100% of fair market value, which means if the Property Valuation Administrator (PVA) overestimates your home's value, you are overpaying on every line of your tax bill, from state to county to school district. That's a substantial burden when you're looking at cumulative tax bills year after year.

The good news is this: Of those who do appeal, research from the Lincoln Institute of Land Policy shows 40 to 60 percent win reductions of 8 to 20 percent. Those aren't insignificant numbers. If you're paying $6,000 annually in property taxes and receive a 10 percent reduction, you're saving $600 every year.

Know When an Appeal Makes Sense

Before you start the appeal process, it's worth asking yourself whether your situation warrants the effort. Not every assessment increase is worth fighting, and filing an appeal does require some legwork on your part.

The clearest sign that an appeal is worth pursuing: If similar homes sold for less than your assessment in the past 12 months, you have a case. I recommend pulling recent comparable sales data in your Lexington neighborhood. You can use HOUSEJET to search for similar homes that sold near your property. If a comparable home that sold three months ago went for $385,000 but your assessment is $420,000, you have solid evidence to support an appeal.

Check your assessor's property record card. Errors on square footage, bedroom count, lot size, or condition are the single most common reason for overassessment. Sometimes the quickest path to a lower assessment isn't about market value at all—it's simply fixing basic data errors in the PVA's records. This is worth investigating before you invest time in a full appeal.

The Kentucky Appeal Process: Three Tiers

The Property Valuation Administrator's Notices of Real Estate Assessment are typically mailed during the month of April. The Property Valuation Administrator (PVA) is required to send a notice of assessment any time there is an increase in the assessed value of a property. Once you receive this notice, your clock starts ticking. In Lexington, this means you're likely working with the Fayette County PVA.

The appeal process in Kentucky has a built-in structure designed to give property owners multiple chances to be heard.

Step 1: Schedule a Conference with the PVA

In accordance with statutory requirements, property owners who wish to appeal their assessment must first hold a conference with the PVA office. For purposes of the Review Request (appeal) process, a conference is an informal process and can be held via email correspondence or in person (by appointment only). This is your opening move. Schedule this conference before the formal inspection period closes. Many PVA offices now offer online or phone conferences, which makes this step manageable.

During this conference, bring documentation that supports your position. The burden of proof in the appeals process is on the property owner. This is crucial to understand. The PVA's assessment is presumed correct unless you prove otherwise.

Step 2: Prepare Your Evidence

The strength of your appeal depends entirely on what you bring to the table. Property owners filing an appeal are required to provide factual evidence to support their appeal including the physical characteristics of the land and improvements, insurance policies, the cost of construction, and real estate sales listings.

The most compelling evidence you can gather: Identify 3-5 recent sales (within the past 6-12 months) of homes similar to yours in size, age, condition, and location. These comparables should support a market value lower than your assessed value. Don't guess at comparables. Use actual MLS data through HOUSEJET or your local MLS to find homes in your Lexington area that match your property's characteristics.

If you have a professional appraisal from a recent purchase, refinance, or home equity application, bring it. A professional appraisal is the strongest single piece of evidence you can present. If you have a recent appraisal (from a purchase, refinance, or HELOC application), it establishes an independent market value opinion. If you do not have one, commissioning an appraisal ($350-$500) may be worth it if the potential tax savings are significant.

Step 3: Appeal to the Local Board of Assessment Appeals

If you and the PVA don't reach agreement during your conference, you can appeal to your county's Board of Assessment Appeals. Appeals to the BAA must be filed one business day following the conclusion of the formal (statutory) Inspection period. To file an Appeal with the County Clerk, you must include a Conference Record (Form 62A307) proving that the mandatory Conference with the PVA Office was held.

All real property assessment appeals are heard by a three-member panel known as the Local Board of Assessment Appeals. The Board is comprised of three local residents who are knowledgeable about real estate values. The hearings at the local level are informal. Property owners do not have to hire an attorney or professional representative; however, they can have representation if they desire to do so. In most cases, residential homeowners can successfully present their case without legal help.

At the hearing, you'll have roughly 5-15 minutes to present your evidence and explain why you believe the assessment is too high. Stay focused on comparable sales, not emotions. Stick to facts about the property and the market.

Step 4: State-Level Appeal (If Necessary)

If the property owner is dissatisfied with the local board's ruling, an appeal can then be filed at the State level with the Kentucky Board of Tax Appeals (KBTA). Most residential property owners don't reach this stage. It's more common for commercial properties or high-value disputes to escalate beyond the local board level.

Critical Deadlines and Requirements

Here's where many appeals die: Property tax appeal deadlines are strict. Missing the deadline by even one day typically results in automatic denial with no hearing. I cannot overstate this. Mark your calendar the moment you receive your assessment notice. Kentucky's appeal window is set, and missing it means waiting a full year for another chance.

A property owner can have a conference with the PVA without providing any documentation but an appeal will be denied if the taxpayer has been asked to present information by the PVA, Revenue Cabinet, or the board, and fails to do so. If the PVA or appeals board requests specific documentation and you don't provide it, your appeal is dismissed. No second chances.

When to Consider Professional Help

Most Lexington homeowners can successfully appeal a residential property assessment on their own. You don't need an expensive attorney or property tax firm to win. However, Property tax appeal companies offer to appeal on your behalf, typically on a contingency fee basis (they take 25-50% of first-year savings). No upfront cost: Most work on contingency (pay only if successful). Expertise: They know local comps, assessment practices, and what works. Time savings: They handle research, filing, and hearing. Higher success rate: Professional presentation may improve odds. High fees: 25-50% of first-year savings (sometimes multi-year).

For a typical residential property in Lexington, paying 50% of first-year savings to a company is overkill. Do the work yourself. However, if your property is unusual, very high-value, commercial, or if you're uncomfortable with the process, professional representation is worth considering.

What Happens If You Win

If successful, your property tax bill will be corrected for the current year (and often future years until the next reassessment). The reduced assessment typically stays in place until the next reassessment cycle, which varies by county but often runs 3-4 years or longer. That means if you win a reduction, you're looking at sustained savings over multiple tax years, not just one.

Take Action Today

If you've received a high assessment notice in Lexington and suspect your property is overvalued, don't ignore it. The process is designed to be accessible, and success is achievable with solid evidence. Start by pulling comparable sales data in your neighborhood using HOUSEJET. Compare your assessed value against homes that actually sold near you. Schedule that conference with the Fayette County PVA. Gather your documentation. You might be looking at hundreds of dollars in annual savings, year after year.

As your local real estate expert here in Lexington, I help clients understand property values every day. I've seen overassessments cost homeowners thousands of dollars. I've also seen successful appeals save families significant money. If you want guidance on what your home is actually worth in today's market, or if you'd like help gathering comparable sales information for an appeal, don't hesitate to reach out. That's what I'm here for.

Your property tax assessment doesn't have to be the final word. You have the right to challenge it, and you have the tools to win.