People are worried about rising property assessments | Kentucky News
MCCRACKEN COUNTY, KY – This is a shock. That’s what some McCracken County homeowners are saying after learning that their homes are worth more and their property taxes are going up because of it.
This occurs where properties have not been rated or under-rated for years in the county. Countywide, 84% of properties saw an increase in their tax assessments.
We spoke with a Paducah woman who was surprised by the increase. She also worries about how her elderly neighbors will cope.
Jennifer Hewing has lived in Paducah since 2018. This is the first time she has had her property assessment increased.
“I mean, getting the letter was a bit of a shock because I honestly didn’t expect any raise,” Hewing said.
McCracken County PVA Bill Dunn says there are several reasons for the increase.
“It’s partly because of history, the lack of proper revaluation or valuation, and partly because real estate sales have also increased significantly,” Dunn said.
As a result, some people have experienced a significant increase in their property taxes.
“Every few years your property value usually increases, but some people have seen a stair step. They have seen a big jump, so those are the people who ask the most questions and are worried,” said Dunn said.
For Hewing, she must now find the extra money.
“I’m kind of working two jobs right now, so I have to work a little more on one job just to earn some extra income,” Hewing said. “I use what’s available to help out a bit, but not everyone has that second job or the ability to do that kind of work.”
If you received notice from the McCracken County PVA office, understand that a portion of the escrow is for taxes. Full escrow is a monthly payment for home insurance and taxes.
And, you can always appeal your property assessment. The deadline is May 16 at 4 p.m.
Dunn says one of the reasons for the increase in property taxes is due to a history of undervaluation.
Nancy Bock pleaded guilty in 2020 for stealing thousands of taxpayer dollars when she was the PVA. She spent it on personal trips. She also failed to assess and reassess properties in McCracken County.