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Real Property

Real Estate Value Notices Will Arrive Soon
 

In accordance with Kansas State Statutes, the Jefferson County Appraiser’s Office will be mailing out the 2017 “Change of Value Notices” on or before March 1st.

 A study of the residential real estate market indicated the market is stable with an upward trend of 3%-5%.  All residential properties will see a slight decrease or increase in 2017 to adjust for market conditions.    
 
A study of the commercial real estate market indicated that the commercial market is stable with an upward trend of 2%-5%.  All commercial properties will see a slight value change for 2017. 

 A study of the real estate market for vacant land indicated the market is stable with an overall increase of 1%-4% in market land values in most areas.  

The 2017 values from the Kansas Department of Revenue, Division of Property Valuation, indicated an increase to value in cropland, including grassland.  The Ag “use” values are based on an (8) year average of reported income & expenses.  
 
If you are an owner of a mixed use property, or any real property, please look your valuation over closely to ensure a fair and equitable valuation.  As a taxpayer you have two opportunities, per year, to protest.  You may only protest once a year.  Your first opportunity is in March when you receive your new valuation notice.  You have 30 days from the day the valuation notice is mailed to appeal your value.  This is the most opportune time to take care of these matters, for the value has not been generated to a tax dollar.  Your second opportunity is after you receive your tax statement.  Once these values have been generated to a tax dollar and a tax bill sent, you must complete and submit a protest form when you pay your tax. 




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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