An emergency reassessment of 2,400 commercial properties in Boone County (Covington), Kentucky produced a dramatic increase in values. Property owners were hit with assessments that are between 30% and 120% higher.

Tax bills reflecting the new values will be mailed in October. If taxpayers did not contest their property assessment, they have no recourse until the appeals process opens up next May against 2008 values.

The emergency reassessment was ordered in the wake of last year’s suicide of the Boone County Property Valuation Administrator. State revenue officials conducted a review and found irregularities suggesting that some properties had been grossly undervalued.

Taxpayers were given only two weeks notice to appear to contest the increased assessments from the revaluation. Several hundred owners met with state revenue department staff to try and get their assessments reduced. A spokesman for the Kentucky Finance and Administration Cabinet said some taxpayers got their assessments lowered, some assessments remained the same and some property owners have taken their case to another level of appeal.

Property owners unhappy with the outcome of their initial conference with the revenue department could appeal to the local board of tax appeals. If not satisfied with that result, they had the option to take their case to the state board of tax appeals.