Kentucky Governor Says House is Worth $1.6 Million

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FRANKFORT, Ky. (AP) – Kentucky’s Republican governor says the house he bought from a friend and political appointee is worth about half what the county tax office says.

Gov. Matt Bevin’s lengthy tax appeal says his house and property are worth his purchase price of $1.6 million. Jefferson County established the value at nearly $3 million before the governor’s purchase. If the governor bought the house for less than fair market value, it could raise ethics concerns.

The 8,000-square-foot home originally sat 19 acres of land, and Bevin bought just 10 acres.

His lawyer also told the Jefferson County Board of Assessment Appeals on Monday that the house needs a lot of structural work, and he noted that the city of Anchorage has lowered its valuation to $2.2 million.