In Kansas, the law states that the Appraiser’s Office must determine a ‘fair market value’ for each property as of January 1st each year. The Appraisers Office analyzes home sale prices and other data to help set the value of all property.
If the houses in your neighborhood or surrounding your property are selling for more than they did last year, then you will likely see an increase in your value as well.
Appraisers do not create value. Appraisers set values that reflect what the market is doing. If people are paying more for homes or commercial property, as they are in many Wyandotte County neighborhoods, then property values will show an increase.
An increase in the assessed value means the home or property you own is worth more than it used to be, which means if or when you sell it, you can set a higher sales price and make more on your investment.
The 2018 Unified Government cut the KCK property tax rate by 4.8%. In 2017, the Unified Government cut the property tax mill levy 4.6%. Those cuts in tax rates help offset increases in property value.
Unified Government (city-county) taxes are less than half of the total tax bill. Schools and the State of Kansas make-up more than 50% of the taxes you pay.
In 1997, the owner of a $100,000 house paid $1,115 in city/county property tax. 20 years later in 2018, the owner of a $100,000 house will pay $905 in Unified Government property tax. That’s a reduction of $210, or 19% less.
If you are not satisfied with your property valuation, you have 30 days from receiving your valuation notice to appeal. The deadline to appeal was Wednesday, April 4th. Appeals hearings run through May 15th.
If the informal appeal deadline was missed, the next opportunity to appeal is when a property owner pays their first half 2018 taxes; on or before December 20th, 2018
Property values, parcel data & comparable sales report will are available on Appraiser’s Property Search at: www.wycokck.org/appraiser.