Fayette cancels controversial property reassessment plan

Fayette County commissioners have canceled a controversial property reassessment.

The county was in the process of updating its base year valuation from 2001 to 2008, but all three commissioners this morning announced they will not implement the new values.

Property owners will be notified via mail that their assessments, on which property taxes are based, will remain at the 2001 values.

The county sent notices earlier this month advising property owners of the new values under the reassessment. Commissioners decided to think the reassessment decision after hearing from many residents whose assessments were set to double or triple.

In announcing their decision, commissioners cited the ongoing decline in housing values they feel is not accurately reflected in the new reassessment values.