The Department of Revenue shall equalize each year the assessments of the property
among the counties. It shall compare the recapitulation of the property valuation
administrator's books from each county with the records of sales of land in such county or
with such other information that it may obtain from any source and shall determine the
ratio of the assessed valuation of the property to the fair cash value. The Department of
Revenue shall have power to increase or decrease the aggregate assessed valuation of the
property of any county or taxing district thereof or any class of property or any item in
any class of property. The Department of Revenue shall fix the assessment of all property
at its fair cash value. When the property in any county, or any class of property in any
county, is not assessed at its fair cash value, such assessment shall be increased or
decreased to its fair cash value by fixing the percentage of increase or decrease necessary
to effect the equalization.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 85, sec. 235, effective June 20, 2005. -- Amended
1964 Ky. Acts ch. 141, sec. 16. -- Amended 1942 Ky. Acts ch. 131, secs. 23 and 32.
-- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 4114i-16, 4114i-18.
Notes of Decisions
Cited in
10
cases, 1945–2009 · leading case:
Allphin v. Butler, 619 S.W.2d 483 (Ky. 1981).
Allphin v. Butler, 619 S.W.2d 483 (Ky. 1981).
· cites it 22× “040 does not apply to them is that their duty to correct their assessments is superseded by the department's ability to assess property as provided in KRS 133.150. A close look at this statute reveals that it neither relieves the PVAs of following the Department's directives nor…”
Russman v. Luckett, 391 S.W.2d 694 (Ky. Ct. App. 1965).
· cites it 3× “450(1) and KRS 133.150, require the assessment for taxation of all property (not exempted by the Constitution) at “its fair cash value”.”
Blue Diamond Coal Co. v. Cornett, Sheriff, 189 S.W.2d 963 (Ky. Ct. App. 1945).
· cites it 3× “On June 24, 1944, the Kentucky Tax Commission, pursuant to the authority conferred upon it by KRS 133.150, directed that the total valuation of certain classes of property in Perry county, as certified by the County Board of Supervisors, should be increased by 10 per cent.”
Ballard Cnty. v. Citizens State Bank of Wickliffe, 261 S.W.2d 420 (Ky. Ct. App. 1953).
· cites it 4× “KRS 133.150 says, “The Kentucky Tax Commission shall equalize each year the assessments of the property among the counties”, and prescribes that it is to be by comparison of the recapitulation of the books of the respective county tax commissioners with other information of…”
St. Matthews Fire Prot. Dist. v. Aubrey, 304 S.W.3d 56 (Ky. Ct. App. 2009).
“The Department conducts an "equalization" to assure that the property in each county and district is assessed at its fair cash value, ( see KRS 133.150), and certifies the results to each county clerk.”
Barrett v. Reynolds, 817 S.W.2d 439 (Ky. 1991).
“KRS 133.150 and KRS 133.170. By order entered October 7, 1988, the court held that the revised mapping data should not have been used until the entire county had been completed, and therefore was arbitrary and discriminatory.”
Fitzpatrick v. Patrick, 410 S.W.2d 143 (Ky. Ct. App. 1966).
“As we construe the statutes dealing with assessment equalization by the Department of Revenue, KRS 133.150 to 133.170, they do not in terms provide any method by which an individual taxpayer may be protected against assessment of his property above fair cash value in the…”
St. Matthews Fire Prot. Dist. v. Aubrey, 304 S.W.3d 56 (Ky. Ct. App. 2009).
“The Department conducts an “equalization” to assure that the property in each county and district is assessed at its fair cash value, (see KRS 133.150), and certifies the results to each county clerk.”
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