Homes, commercial real property and certain other property categories are appraised at "market value" as of the first day of January each year. Market value is the amount of money a well-informed buyer would pay and a well-informed seller would accept for property in an open and competitive market without any outside influence.
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According to Kansas statute, real property is land and all buildings, fixtures, improvements, mines, minerals, quarries, mineral springs and wells, rights and privileges appertaining thereto, except as otherwise specifically provided.
By law, all property in this state, real and personal, not expressly exempt therefrom, is subject to taxation.
Tax dollars are used by local government to provide funding for roads, parks, fire protection, police protection, health and other services. Property taxes also fund public school districts.
By law, the county appraiser is responsible for listing and valuing property in a uniform and equal manner. The appraiser determines the appropriate value of your property. The amount of property taxes you pay depends on the budgets set by local government, special assessments, and an amount distributed to public schools.
If a property value goes up, it does not necessarily mean the taxes will increase. Likewise, if a property value goes down or does not change, it does not automatically mean the taxes will decrease or remain the same. Changes in property taxes are based in large part on how much the local government decides to spend on services each year. If values overall go up but local spending remains the same, the mill levy (tax rate) should be lower and therefore have little effect on the tax bill.
State law requires your county appraiser to view and inspect all real property in the county once every six years.
One sale by itself does not determine market value. In addition, inflation and other market conditions may effect the market value of your home as of January 1. The price you paid for your house is verified by the county appraiser and then considered along with sales of similar properties.
Notices of value are sent to the owner, as recorded in the register of deeds office, on or before March 1 for real property each year.
You can visit the county appraiser's office to review information on similar properties and verify that the information the appraiser's office has on your home is correct. In addition, real estate professionals can provide information about market conditions in your area.
For real property, the buyer is responsible for the property tax if the property is sold on or after January 1 and before November 1. The seller is responsible for the property tax if purchased on or after November 1 and prior to January 1 (K.S.A. 79-1805).