Property Tax Resources

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Kentucky Property Tax Updates

UPDATED december 2022

KBTA Rejects Use of Vacant Comparables

The Kentucky Board of Tax Appeals (“KBTA”) appears to be moving Kentucky to a "value in use" state.  In three recent decisions, the KBTA held that “vacant store comparables are not truly comparable” to an occupied, operational retail store.  Lowe’s Home Centers v. Scott Co. PVA, KBTA File Nos. K19-S-017 & K20-S-031; Lowe’s Home Centers v. Montgomery County PVA, KBTA File No. K20-S-036; Lowe’s Home Centers v. Jefferson County PVA, KBTA File Nos. K20-S-168, -169, and -170.  The KBTA rejected the notion that vacant stores could be used as comparables, since the properties in question were occupied.  Even more disturbing was the KBTA’s ruling that, when valuing an owner-occupied property, it will assume that “it would have been sold as an occupied property, presumably with a lease to the then-possessor/occupier.”  K20-S-036 at p. 20.  Finally, the KBTA (an administrative tribunal) rejected a prior decision from the Kentucky Court of Appeals that leased comparables should not be used for owner-occupied properties, as the hearing officer “believe[d] that the Court of Appeals misconceived the effect of a lease on a property.”  K20-S-168 at p. 25.

The Montgomery County and Jefferson County cases have been appealed.

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Morgan Pottinger McGarvey
American Property Tax Counsel (APTC)

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American Property Tax Counsel

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