Kentucky Property Valuation
Administrator (PVA) Exam With Actual
Questions & Verified Answers,Plus
Rationales/Expert Verified For
Guaranteed Pass /2026 /Latest
Update/Instant Download Pdf
1. The primary responsibility of a Kentucky Property Valuation
Administrator is to
A. Set tax rates for local governments
B. Collect property taxes
C. Determine fair cash value of property for ad valorem
taxation
D. Approve zoning changes
Answer: C
Kentucky PVAs are responsible for assessing property at its fair cash
value, not tax collection or rate setting.
2. Fair cash value in Kentucky is best defined as
A. Replacement cost new minus depreciation
B. Value set by the Department of Revenue
C. Price a willing buyer would pay a willing seller under
normal conditions
D. Original purchase price
,Answer: C
Fair cash value reflects market value based on an arm’s-length
transaction.
3. Which Kentucky statute governs property valuation and
assessment procedures?
A. KRS Chapter 65
B. KRS Chapter 91
C. KRS Chapter 132
D. KRS Chapter 134
Answer: C
KRS Chapter 132 outlines valuation, classification, and assessment
requirements.
4. The assessment date for real property in Kentucky is
A. January 1
B. April 15
C. July 1
D. January 1 of each year
Answer: D
All property is assessed as of January 1 annually.
5. Which organization oversees Kentucky property assessment
standards?
A. Kentucky League of Cities
B. Kentucky Department of Revenue
C. State Board of Equalization
D. County Fiscal Court
,Answer: B
The Department of Revenue provides oversight, guidance, and
audits.
6. Which property is exempt from taxation in Kentucky?
A. Rental residential property
B. Commercial warehouses
C. Property used exclusively for religious worship
D. Vacant land
Answer: C
Religious-use property qualifies for constitutional and statutory
exemption.
7. The Homestead Exemption in Kentucky applies to
A. All homeowners regardless of age
B. Rental property owners
C. Owners age 65 or older or totally disabled
D. Agricultural landowners only
Answer: C
The exemption reduces the taxable value of a qualifying
homeowner’s primary residence.
8. Agricultural land in Kentucky is assessed based on
A. Market value
B. Sales comparison approach
C. Agricultural use value
D. Income from crops only
, Answer: C
Agricultural land is valued based on use value rather than market
value.
9. The valuation approach most appropriate for income-producing
commercial property is
A. Cost approach
B. Sales comparison approach
C. Income capitalization approach
D. Gross rent multiplier only
Answer: C
Income-producing properties are best valued by analyzing income
and expenses.
10. Which appraisal approach estimates value by analyzing
recent comparable sales?
A. Cost approach
B. Income approach
C. Sales comparison approach
D. Replacement approach
Answer: C
The sales comparison approach reflects buyer and seller behavior in
the market.
11. Depreciation in the cost approach includes
A. Physical deterioration only
B. Functional obsolescence only
Administrator (PVA) Exam With Actual
Questions & Verified Answers,Plus
Rationales/Expert Verified For
Guaranteed Pass /2026 /Latest
Update/Instant Download Pdf
1. The primary responsibility of a Kentucky Property Valuation
Administrator is to
A. Set tax rates for local governments
B. Collect property taxes
C. Determine fair cash value of property for ad valorem
taxation
D. Approve zoning changes
Answer: C
Kentucky PVAs are responsible for assessing property at its fair cash
value, not tax collection or rate setting.
2. Fair cash value in Kentucky is best defined as
A. Replacement cost new minus depreciation
B. Value set by the Department of Revenue
C. Price a willing buyer would pay a willing seller under
normal conditions
D. Original purchase price
,Answer: C
Fair cash value reflects market value based on an arm’s-length
transaction.
3. Which Kentucky statute governs property valuation and
assessment procedures?
A. KRS Chapter 65
B. KRS Chapter 91
C. KRS Chapter 132
D. KRS Chapter 134
Answer: C
KRS Chapter 132 outlines valuation, classification, and assessment
requirements.
4. The assessment date for real property in Kentucky is
A. January 1
B. April 15
C. July 1
D. January 1 of each year
Answer: D
All property is assessed as of January 1 annually.
5. Which organization oversees Kentucky property assessment
standards?
A. Kentucky League of Cities
B. Kentucky Department of Revenue
C. State Board of Equalization
D. County Fiscal Court
,Answer: B
The Department of Revenue provides oversight, guidance, and
audits.
6. Which property is exempt from taxation in Kentucky?
A. Rental residential property
B. Commercial warehouses
C. Property used exclusively for religious worship
D. Vacant land
Answer: C
Religious-use property qualifies for constitutional and statutory
exemption.
7. The Homestead Exemption in Kentucky applies to
A. All homeowners regardless of age
B. Rental property owners
C. Owners age 65 or older or totally disabled
D. Agricultural landowners only
Answer: C
The exemption reduces the taxable value of a qualifying
homeowner’s primary residence.
8. Agricultural land in Kentucky is assessed based on
A. Market value
B. Sales comparison approach
C. Agricultural use value
D. Income from crops only
, Answer: C
Agricultural land is valued based on use value rather than market
value.
9. The valuation approach most appropriate for income-producing
commercial property is
A. Cost approach
B. Sales comparison approach
C. Income capitalization approach
D. Gross rent multiplier only
Answer: C
Income-producing properties are best valued by analyzing income
and expenses.
10. Which appraisal approach estimates value by analyzing
recent comparable sales?
A. Cost approach
B. Income approach
C. Sales comparison approach
D. Replacement approach
Answer: C
The sales comparison approach reflects buyer and seller behavior in
the market.
11. Depreciation in the cost approach includes
A. Physical deterioration only
B. Functional obsolescence only
