PROPERTY VALUATION ASSESSMENT INCREASES
Fort Thomas Residents,
Many of you have recently received notice that the valuation of your property has increased, due to the re-assessment by the Property Valuation Administrator’s office of properties in the City of Fort Thomas. There are a few misconceptions that seem to be circulating, so I wanted to give a little synopsis of exactly what is going on and how it affects property owners.
State statute requires re-assessment every 2 to 4 years, with Fort Thomas properties traditionally being re-assessed by the PVA Office every 4 years. The Campbell County PVA’s office looks at housing data (home sales, etc.) to arrive at an updated property valuation for real estate in the City. This cycle has seen significant increases in property valuations due to the current state of the housing market, with a total increase across the City of roughly 25%. The City of Fort Thomas has no influence on or oversight of this process.
If you have received notice of an assessment increase from the PVA, you have some options.
Obviously, if you believe the increased assessment to be correct, or have no complaints, you can simply budget for the additional property tax amount. However, if you think the assessment is incorrect or wish to contest the assessment amount, you can lodge an official protest with the PVA. The form is available on their website at: https://pva.campbellcountykentucky.com/ or you can call them at 859-292-3871.
Should you have any questions aside from property assessment questions, please feel free to contact the Finance Department at 859-441-1055, option 3, or by email at finance@ftthomas.org.
Thanks and have a great day,
Joseph Ewald
Director of Finance