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Serving as Clark County Property Valuation Administrator (PVA), Jada Brady is always interested in informing the local community. 

On Wednesday, April 9, she made her presence known in a positive manner. 

Brady spoke to members of the Rotary Club of Winchester during their weekly meeting at the Winchester Country Club on 410 Boone Avenue.

“Thank you very much for having me,” Brady said. “I just thought I’d come by and tell you about some of the things that we’ve had going on in the PVA office.” 

During the course of her presentation, Brady covered various aspects of property valuation. 

Among them, as has been previously covered, was the definition and implementation of fair cash value. 

“We are required by the Kentucky state constitution to assess property at 100% fair cash value,” she said, elaborating that this requires noting how much that property would be worth to someone else. “What we do is we generally take sales from around your area, compare it to all those additional sales, come up with a price per square foot in most cases, and that’s how we actually come up with your assessment value.” 

Brady also introduced information about three different assessment processes used – the cost/market approach, cost approach, and income approach – and reiterated that, while the cost/market approach is most common, the latter two may be utilized as well. 

For example, the income approach is more common with rentals – where factors such as operating expenses, insurance, maintenance costs, financing terms, and the amount of money owners can expect to make on the type of property are considered. 

A cost approach uses tools such as today’s labor prices and material prices when making assessments and is more common commercially. 

Three types of homestead exemptions – for individuals ages 65 and over, disability at any age, and disability military at any age – are applicable. 

Brady also talked about the PVA’s role in tax bills, noting that each amount is the assessment value multiplied by the tax rate. 

County real estate taxes include school, state, general fiscal court, library, health, and extension services. 

A number of other noteworthy points – such as how individuals who disagree with their current assessment value can file an appeal and the basis of insurance – were mentioned as well. 

“If you’ve got a current insurance policy, I will take a look at that,” Brady said. “I do not have access, so you do have to supply that information.” 

Important dates brought up during the presentation included May 15th, when information on personal property (tangibles) are due, and the open inspection period of the assessment process being between May 5th and May 19th. 

Certainly not least, while reminding others that the Clark County PVA Office is located in the basement of 34 S. Main Street, Brady also affirmed that hours have been extended to 5:00 p.m. on Mondays and 30 free look ups are available each month when individuals head to www.clarkpva.com. 

“[This] means you can look at thirty houses anywhere in the county for free before you have to purchase [a] subscription,” she said. “I encourage everyone that if you have questions about assessments to take a look at your neighborhood and utilize that service.” 

In addition to the above-mentioned website, individuals hoping to gather more information can do so at the new Facebook site titled “Clark County KY PVA” at: https://www.facebook.com/profile.php?id=100088639604729. 

‘“It is very helpful,” Brady said. “It keeps you up-to-date with everything that we’ve got going on.”