Kentucky Tornado: What Does This Mean for Property Taxes?

The property owners of Mayfield, Kentucky, are still reeling from the effects of a tornado that struck almost four months ago in December. The catastrophic weather event is believed to have damaged around 1,300 buildings, a significant portion in a community of just 10,000. While citizens have had to rebuild their lives, local government officials are aware that property damage will impact tax revenue. Some residents may have received their 2022 tax assessment early as the Graves County Property Valuation Administrator’s (PVA) office tries to get ahead of the game.

Will I Still Receive an Assessment Notice?

By the first week of February, 700 property owners had already received their 2022 tax valuations as the department started its assessment. Residents may not have received assessments for all their properties yet, but the PVA is continuing to send out these preliminary notices. Staff performed a visual canvas of impacted properties and may have missed some because of damage.

Lee Martin, deputy of the PVA, wants citizens to know that they can appeal these assessments if they disagree with them. Property owners should keep their eye out this month for official assessments. If there are any disagreements with the noticed value, there is a two-week period from the date issued to appeal. Fortunately, the PVA is dedicated to working with citizens to find acceptable solutions for both parties. Martin also encourages anyone whose property was damaged to report those losses, regardless of severity.

Are Taxes Still Due on My Property?

Businesses and homeowners in Kentucky should still expect a bill. Even if a property was leveled entirely by December’s tornado, they will still owe tax on the lot and any septic and water facilities it contains.

A property owners’ decision to rebuild, takes time, and taxes will remain affected. Some communities are still cleaning up damage from the tornados that rampaged other parts of Kentucky at the same time.

To report damage or appeal a tax assessment, property owners can visit the PVA officer in Mayfield, Kentucky.