Job of the County Appraiser
Statewide reappraisal of real property; duties and authorities of state director of property valuation and county and district appraisers; methods of establishing valuations time of application of valuations. The director of property valuation is hereby directed and empowered to administer and supervise a statewide program of reappraisal of all real property located within the state……...
This statute sets the director of PVD in charge of appraisal across the state of Kansas. The county appraiser is under the supervision of the director, he sets directives etc…..
Fair market value defined; …..means the amount in terms of money that a well informed buyer is justified in paying and a well informed seller is justified in accepting for property in an open and competitive market, assuming that the parties are acting without undue compulsion.
When your property is valued by using the sales approach, fair market sales determine if a sale can be used in the process.
Failure of officer to list or properly value…..A variance of 10% in the appraisal at fair market value in money shall not be considered a violation of this section. 79-1445. .annual determination of compliance;….
The 10% variance can be either above or below the 100% market value. If found guilty I could be imprisoned up to 90 days and pay a $500 fine
Annually, as of January 1, classify all taxable and exempt real and personal property into one of the following classifications:……….
These statutes combined show that we have to value property as of 1/1 of every year at a fair market value and we will be tested on these values.
What happens if a fire or a disaster occurs?
If your property should burn or be damaged due to a tornado, excessive winds, flooding, or vandalized, you will be appraised as your property set January 1 of the current tax year. This will hold true even if it occurs on January 2nd. Remember you are not paying taxes for the current tax year until December 20 of that year.
3 Approaches to Value
Cost Approach to value: This means value is based on replacement cost new less depreciation. Depreciation is age, outside factors that effect your property, etc. Replacement cost is what it would cost to rebuild your buildings at today’s costs.
The Sales Approach is utilizing sales to value your property. Sales of properties are adjusted to be as close to your property as possible and then an adjusted sales price is calculated to determine what your property would sell for on the open market.
The 3rd approach to value is the Income Approach. This is not used in Sumner County for residential property because a data base has not been established that could be efficiently used to value property. This is one of the approaches used more on commercial property than on residential property.
Why appraise at all?
In the state of Kansas the cost of local services is spread out across the value of properties. It is the responsibility of the appraiser to attempt a fair and equitable appraisal of those properties.
Some of the local services that taxpayer’s benefit from are police, fire protection, parks, roads, public health, schools and many more.
Comparison on Appraiser's house
Comp sheet value as of 1/1/00
Cost - $42,710
Market - $41,400
Alternate Value - $42,710
1999 Value - $35,710
Fee Appraisal for Bank
Value - $48,500
Price Paid - $44,500 on 4/2000
Should you appeal?
- If you believe that you could not sell your house for what the county has your house valued at, then yes you should appeal.
- You can either appeal after you receive your Change in Valuation Notice or you may appeal at the time you pay your taxes. (You may only appeal once a year.)
What documentation to bring if you appeal?
- Pictures showing any damage
- Sales of similar properties that you believe are comparable to your property
- A list of questions that you may want answered.
- Anything that would give evidence that your valuation is too high.
Appeal works as follows:
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