2020 INFORMAL REAL ESTATE APPEAL DEADLINE HAS EXPIRED
The deadline to file a 2020 Informal appeal for commercial and residential real estate was March 30, 2020. No extension to file past this statutory deadline date has been granted.
The 2020 real estate values were released to the public on February 28, 2020, and property owners were given 30-days to submit an appeal.
The next opportunity to appeal your 2020 value and/or classification is when the first half taxes become due in December. See information here on the Payment Under Protest process.
MARKET STUDY ANALYSIS FOR WYANDOTTE COUNTY FOR THE 2020 TAX YEAR(K.S.A. 79-1460a)
A study of the Wyandotte County real estate market for ad valorem tax purposes using mass appraisal techniques must be performed annually by the Appraiser's Office prior to the mailing of valuation notices. Fair market values for tax purposes, as defined by K.S.A. 79-503a, with exception to agricultural land, should reflect the trends over the past year and value levels of the real estate market in the county as of January 1st. The Appraiser's Office gathers market data and conducts studies each year to ensure that the valuation models are relevant and calibrated to the local market.
The market study for the 2020 tax year indicates the following:
RESIDENTIAL REAL ESTATE:
The analysis of the residential real estate market concludes that most areas are showing an increase in value overall.
Average and median sale price and sale price per square foot indicators were reviewed, along with statistical model indicators, to determine overall average value trends in the various model/neighborhood areas. In general, a stable economy and higher demand for homes has caused a continuation in increased home prices within the market. A study of the residential market indicates average inflationary trends ranging from 3.7% to 7.3% per year depending on location within the county. Some areas within the county may see larger increases due to market demand.
A study of the residential real estate market utilizing only paired sales indicated an overall median inflationary trend of 6.4% per year.
Of the approximate 45,750 single-family property valued for 2020, approximately 5% will decrease or have no change in value and approximately 95% will see an increase in value over last year. These numbers include new construction value changes, as well as changes due to demolition.
Values on specific residential properties may not follow general trend(s) due to changes in the market in specific neighborhoods, changes to the property, correction of descriptive information, or adjustments of values based on sales of similar properties.
COMMERCIAL REAL ESTATE:
A study of the commercial real estate market indicated inflationary trends up to 8% per year depending on property type.
The Appraiser's Office also tracks data from commercial real estate publications including: CoStar, Integra Realty Resources, CB Richard Ellis, and Marcus & Millichap. Most have concluded stabilized to increasing rents, as well as stabilized vacancies and capitalization rates for most commercial property types in the KC Metro and Wyandotte County.
This data, coupled with recent sales ratio study analysis, indicates that there is a need for increases in market values for most commercial property types.
Values on specific commercial properties may not follow general trend(s) because of changes in the property, correction of descriptive information, or adjustments to commercial valuation parameters.
After conducting paired and comparable sales, along with conclusions of residential neighborhood and subdivision analyses, it was determined that areas located in the north eastern portion of the County were stable and would utilize no trend. However, central to western portions of the County experienced a general annual upward trend of 3.3%, which was utilized in the 2020 vacant land valuation for residential properties.
A land study for commercial property is also updated annually and indicated an overall inflationary trend of 6% per year. However, there were a few isolated areas of the County where no trend was evident.
In accordance with the provisions in K.S.A. 79-1476, the Division of Property Valuation is required annually to furnish each county the results of its study relating to changes, if any, of the Use Value of agricultural land. Changes can and do occur as a result of several factors, including cropping practices, commodity prices, and production costs.
To provide uniform, fair and equitable values among all classes of property by maintaining the highest standards in appraisal practices and law, guided by the goals of quality customer service to the public, while providing a work environment that encourages staff's professional and personal growth.
To be a recognized leader, for providing fair and equitable mass appraisals of both real and personal property, along with providing accurate and comprehensive information to the citizens and taxpayers of Wyandotte County in a preeminently accountable, effective and efficient manner.
2020 Personal Property Renditions (Property Worksheets)
This is a friendly reminder; the Wyandotte County Appraiser’s Office will be mailing the Personal Property Renditions (Property Worksheets) the first week of January 2020.
Kansas law states that every person who owns or holds tangible personal property subject to taxation must list that property with the County Appraiser of the county where such property is located on January 1st.
Types of Personal Property that should be listed:
Flatbed and enclosed trailers
Horse and stock trailers
ATV’s, golf carts, mopeds, off road motorcycles, snowmobiles, race cars
Camping trailers not registered as recreational vehicles
Non-highway motor vehicles
Non-commercial trucks whose tag weight is 16,000 or higher
Tiny Home Trailers
Aircraft/Hot Air Balloons
Commercial Machinery and Equipment acquired prior to June 30, 2006
The completed renditions must be returned to the Wyandotte County Appraiser’s Office no later than March 16, 2020 to avoid filing penalties. Late filing penalties accrue at a rate of 5% monthly with a maximum penalty rate of 50% for failure to file. For your convenience you may email your completed, signed 2020 Personal Property Rendition (Property Worksheet) to firstname.lastname@example.org.
Notice to all boat owners:
Watercraft should be listed in the taxing district in which it is located on January 1, unless it is in transit; it shall then be listed in the taxing district where the owner resides (K.S.A. 79-304). Property in transit includes watercraft located outside the State of Kansas on January 1, if such watercraft is covered by the federally approved numbering system administered by the Kansas Department of Wildlife and Parks.
Commercial Vehicles/Commercial Trailers:
Beginning January 1, 2014, HB 2557 eliminated the ad-valorem property taxes collected on commercial vehicles and commercial trailers. In addition to the current registration fee, a Commercial Vehicle Fee will be collected based on the registered weight of the vehicle through the Motor Vehicle Department.
House Bill 2557 defines a commercial vehicle as a self-propelled or towed motor vehicle engaged in commerce that is used to transport property or passengers when the vehicle:
has a gross weight or gross combination weight of 10, 001 pounds or more;
is designed or used to transport 15 or more passengers, including the driver; or
is used to transport hazardous materials in a quantity requiring placarding.
If you own personal property and did not receive a form or you have any questions with regard to your reporting responsibilities, please contact the Personal Property Division of the Wyandotte County Appraiser’s Office at 573-8400 option 3 or visit our website at www.wycokck.org/appraiser.
**Note: If you did not file your 2019 Personal Property Rendition (Property Worksheet) there is still time to file and take advantage of reducing your current 50% failure to file penalty. Please call our office prior to March 14, 2020 for instructions.