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Jefferson County Board of Assessment Appeals rules Bevin paid more than his home was worth


By Tom Latek
Kentucky Today

Gov. Matt Bevin paid more for his Anchorage home than it was worth based on findings by the Jefferson County Board of Assessment Appeals.

Bevin purchased the home in March for $1.6 million. Three members of the Board of Assessment Appeals declared it and 10 acres of property worth $1.39 million.

Gov. Matt Bevin purchased the home in March for $1.6 million. Three members of the Board of Assessment Appeals declared it and 10 acres of property worth $1.39 million (Kentucky Today Photo by Mark Maynard)

A four-page report released Friday from the Board of Assessment Appeals showed the home was valued at $1,015,000, and the land $375,000.

Bevin has faced sharp criticism since he purchased the home in March. Critics claimed he had gotten it for far less than it was worth from a Louisville businessman he had appointed to a seat on the board that oversees the retirement system for state employees.

The Jefferson County property valuation administrator had valued the home for tax purposes at $2.9 million in January. Bevin had appealed that appraisal, saying it was much more than the property was worth.

Members of the Board of Assessment Appeals, appointed by Louisville Mayor Greg Fischer, looked at homes within a one- to two-mile radius of the one Bevin purchased in determining its value.

They determined the value of the overall 19 acres of property at $2.15 million, $800,000 less than the $2.97 million set by the Jefferson County property valuation administrator. Bevin purchased only 10 acres of the 19 acres.

Already, Bevin had won a favorable ruling from the Executive Branch Ethics Commission, which dismissed two complaints alleging he had violated state ethics laws by purchasing the home.

Kathryn Gabhart, the commission’s executive director, informed Bevin last month that the complaints had been tossed because nothing in the state’s ethics code precluded the purchase.


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