133.110 Correction of clerical errors in assessment. (1) After submission of the final real property recapitulation or certification of the personal property assessment, the property valuation administrator may correct <br>clerical, mathematical, or procedural errors in an assessment or any duplication of <br>assessment. Changes in assessed value based on appraisal methodology or opinion <br>of value shall not be valid. All corrections shall be reviewed by the Department of <br>Revenue and those changes determined by the department to be invalid shall be <br>rescinded. Any taxpayer affected by this rescission shall not be subject to additional <br>penalties. (2) Notwithstanding other statutory provisions, for property subject to a tax rate that is set each year based on the certified assessment, any loss of property tax revenue <br>incurred by a taxing district due to corrections made after the tax rate has been set <br>may be recovered by making an adjustment in the tax rate to be set for the next tax <br>year. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 230, effective June 20, 2005. -- Amended 1992 Ky. Acts ch. 263, sec. 6, effective July 14, 1992. -- Amended 1978 Ky. Acts <br>ch. 384, sec. 263, effective June 17, 1978. -- Repealed in part 1942 Ky. Acts ch. 131, <br>sec. 32. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from <br>Ky. Stat. secs. 4128, 4250.
133.110 Correction of clerical errors in assessment. (1) After submission of the final real property recapitulation or certification of the personal property assessment, the property valuation administrator may correct <br>clerical, mathematical, or procedural errors in an assessment or any duplication of <br>assessment. Changes in assessed value based on appraisal methodology or opinion <br>of value shall not be valid. All corrections shall be reviewed by the Department of <br>Revenue and those changes determined by the department to be invalid shall be <br>rescinded. Any taxpayer affected by this rescission shall not be subject to additional <br>penalties. (2) Notwithstanding other statutory provisions, for property subject to a tax rate that is set each year based on the certified assessment, any loss of property tax revenue <br>incurred by a taxing district due to corrections made after the tax rate has been set <br>may be recovered by making an adjustment in the tax rate to be set for the next tax <br>year. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 230, effective June 20, 2005. -- Amended 1992 Ky. Acts ch. 263, sec. 6, effective July 14, 1992. -- Amended 1978 Ky. Acts <br>ch. 384, sec. 263, effective June 17, 1978. -- Repealed in part 1942 Ky. Acts ch. 131, <br>sec. 32. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from <br>Ky. Stat. secs. 4128, 4250.
133.110 Correction of clerical errors in assessment. (1) After submission of the final real property recapitulation or certification of the personal property assessment, the property valuation administrator may correct <br>clerical, mathematical, or procedural errors in an assessment or any duplication of <br>assessment. Changes in assessed value based on appraisal methodology or opinion <br>of value shall not be valid. All corrections shall be reviewed by the Department of <br>Revenue and those changes determined by the department to be invalid shall be <br>rescinded. Any taxpayer affected by this rescission shall not be subject to additional <br>penalties. (2) Notwithstanding other statutory provisions, for property subject to a tax rate that is set each year based on the certified assessment, any loss of property tax revenue <br>incurred by a taxing district due to corrections made after the tax rate has been set <br>may be recovered by making an adjustment in the tax rate to be set for the next tax <br>year. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 230, effective June 20, 2005. -- Amended 1992 Ky. Acts ch. 263, sec. 6, effective July 14, 1992. -- Amended 1978 Ky. Acts <br>ch. 384, sec. 263, effective June 17, 1978. -- Repealed in part 1942 Ky. Acts ch. 131, <br>sec. 32. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from <br>Ky. Stat. secs. 4128, 4250.
