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Real Property
What is Real Property?
Real Property is typically land and all permanent structures affixed to it.  This includes any mechanical or other features within the structure with a designed use for the safety and comfort of the occupants and all permanent land improvements.

How do I calculate Real Estate property taxes?

  1. Multiply the appraised value by the assessment rate of the property to get the assessed value
    1. Example: RR/RU Appraised value of $159,000
    2. $159,000 x .115 = $18,285 (Assessed Value)
  2. Multiply the assessed value by the “mill levy”
    1. Example: $18,285 x .146919 = $2,686.41 (Tax Value)
  3. The first $20,000 in appraised value of a residential property is exempt from the 20 mil statewide portion of the mill levy. This includes RR/RU FR/FU and personal property manufactured/mobile homes.
    1. Example: $20,000 x .115 = 2,300 x 20 mills / 1,000 = $46.00 (reduction amount)
    2. If the appraised value is less than $20,000, use the appraised value and follow the same procedures as shown above.

How do I know my assessment rate?

Class

Definition

Asmt Rate %

RR/RU

Real Property used for residential purposes including apartments, condominiums and mobile homes

11.5%

FR/FU

Residents on farm homesites; agricultural land is included along with the homestead

11.5%

AR/AU

Land devoted to Agricultural use

30%

AR/AU

Improvements on land devoted to agricultural use; does not include a homesite

25%

VR/VU

Vacant Lots

12%

NR/NU

Real Property owned and operated by not-for-profit organizations

12%

CR/CU

Real property used for commercial and industrial purposes

25%

OR/OU

Other rural and urban real property not meeting requirements to be classified as Res, Com., Ag,, Ex

30%

UL/UU

Locally assessed public utility (specific use)

33%

E

Exempt

0%



For more information about Real Property, please contact the Appraiser's Office.

For information regarding the Appeals Process, please see the Appeals Process.


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