The 2021 Annual Notice of Appraisal and Classification for all real estate parcels in Wyandotte County will be mailed on Monday, March 15th and have an appeal deadline of Wednesday, April 14th.
The Appraiser's Office is required to value property at a fair market value as of January 1 of each year with exception of agricultural land, which is valued by its agricultural use. Valuing at a fair market value means that value should reflect what's happening in the real estate market.
Despite the pandemic, the housing market has remained strong, and the county has experienced a continuation of increasing home sale prices. Due to a shortage of housing supply, low interest rates, and revitalization in various areas of the county, most property owners should expect to see an increase in their valuation.
Residential values will vary across the county, depending on numerous factors, including market trends, area demand and/or changes made to a property.
Once a property owner receives their new valuation, if the appraised value is more than they feel they could reasonably get if the property was sold, or if they feel the classification is incorrectly assigned, then they should consider an appeal.
Property owners who wish to file an appeal, can do so by submitting the appeal form using the new online submission available at www.wycokck.org/appraiser, or via email to firstname.lastname@example.org, mail, fax, or hand delivered to the Appraiser's Office at 8200 State Avenue, Kansas City, KS 66112.
Upon receipt of a timely appeal, the Wyandotte County Appraiser's Office will schedule an informal appeal meeting. Informal appeal meetings can be either by phone, based on evidence submitted or held virtually. It is important to submit documentation to support the appeal. Documentation can include such items as a recent fee appraisal, pictures of the condition that cannot be seen from the exterior of the property, comparable properties that have sold that the property owner feels more closely represents the value of the property, etc.
Once the informal appeal deadline has expired and a property owner did not initiate a timely appeal, the next opportunity to appeal is when the 2021 tax bills are due, which is on or before December 20, 2021.
Property value information and appeal guidance is available on the Wyandotte County Appraiser's Office website at www.wycokck.org/appraiser. Property owners are also encouraged to contact the Appraiser's Office directly with any questions by calling (913)573-8400.
MARKET STUDY ANALYSIS FOR WYANDOTTE COUNTY FOR THE 2021 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 2021 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 higher demand for homes has caused a continuation in increased home prices within the market. A study of the residential market indicates inflationary trends of up to 9.1% per year depending on age and location within the county. Some areas within the county may see larger increases due to market supply/demand.
Values on specific residential properties may not follow the general trend(s) due to changes in the market in specific neighborhoods, changes to a property, correction of descriptive property information, or adjustments of values based on sales of similar properties.
COMMERCIAL REAL ESTATE:
A study of the commercial real estate market indicated trends ranging between -7.0% to +9.6% per year depending on property type.
Values on specific commercial properties may not follow general trend(s) because of physical changes in the property, correction of a property's descriptive information, or adjustments to commercial valuation parameters.
A study of the real estate market for vacant lots indicated that there is an overall inflationary trend of 2.3% per year, which was utilized in the 2021 vacant land valuation for residential properties.
A land study for commercial property is also updated annually and a general overall inflationary trend of 6% per year was determined and utilized in the 2021 vacant land valuation for most commercial properties. 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.