I bought my house in April for less than what the tax bill says. Why do I have to pay on the higher assessment?

The assessment date is January 1 (KRS 132.220(1)(a)). When you purchased your property, the assessment was as of January 1 of the year you purchased your property. If your purchase price is accepted as a valid sale (fair arm’s-length sale) by our office, your purchase price will reflect your assessment as of the following January 1 assessment date.