133.150 Equalization of county or district assessments by Department of Revenue. The Department of Revenue shall equalize each year the assessments of the property <br>among the counties. It shall compare the recapitulation of the property valuation <br>administrator's books from each county with the records of sales of land in such county or <br>with such other information that it may obtain from any source and shall determine the <br>ratio of the assessed valuation of the property to the fair cash value. The Department of <br>Revenue shall have power to increase or decrease the aggregate assessed valuation of the <br>property of any county or taxing district thereof or any class of property or any item in <br>any class of property. The Department of Revenue shall fix the assessment of all property <br>at its fair cash value. When the property in any county, or any class of property in any <br>county, is not assessed at its fair cash value, such assessment shall be increased or <br>decreased to its fair cash value by fixing the percentage of increase or decrease necessary <br>to effect the equalization. Effective: June 20, 2005 <br>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. <br>-- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. <br>Stat. sec. 4114i-16, 4114i-18.
133.150 Equalization of county or district assessments by Department of Revenue. The Department of Revenue shall equalize each year the assessments of the property <br>among the counties. It shall compare the recapitulation of the property valuation <br>administrator's books from each county with the records of sales of land in such county or <br>with such other information that it may obtain from any source and shall determine the <br>ratio of the assessed valuation of the property to the fair cash value. The Department of <br>Revenue shall have power to increase or decrease the aggregate assessed valuation of the <br>property of any county or taxing district thereof or any class of property or any item in <br>any class of property. The Department of Revenue shall fix the assessment of all property <br>at its fair cash value. When the property in any county, or any class of property in any <br>county, is not assessed at its fair cash value, such assessment shall be increased or <br>decreased to its fair cash value by fixing the percentage of increase or decrease necessary <br>to effect the equalization. Effective: June 20, 2005 <br>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. <br>-- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. <br>Stat. sec. 4114i-16, 4114i-18.
133.150 Equalization of county or district assessments by Department of Revenue. The Department of Revenue shall equalize each year the assessments of the property <br>among the counties. It shall compare the recapitulation of the property valuation <br>administrator's books from each county with the records of sales of land in such county or <br>with such other information that it may obtain from any source and shall determine the <br>ratio of the assessed valuation of the property to the fair cash value. The Department of <br>Revenue shall have power to increase or decrease the aggregate assessed valuation of the <br>property of any county or taxing district thereof or any class of property or any item in <br>any class of property. The Department of Revenue shall fix the assessment of all property <br>at its fair cash value. When the property in any county, or any class of property in any <br>county, is not assessed at its fair cash value, such assessment shall be increased or <br>decreased to its fair cash value by fixing the percentage of increase or decrease necessary <br>to effect the equalization. Effective: June 20, 2005 <br>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. <br>-- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. <br>Stat. sec. 4114i-16, 4114i-18.
