County Appraiser's Duties
It is the duty of the County Appraiser to value equitably and at fair market value all property identified as of January 1 of each year. This involves first determining if the property is taxable. Unless specifically exempted by the State of Kansas or by the State Board of Tax Appeals, all tangible assets, land and buildings and personal property in the State are taxable. The property must be accurately valued at its fair market value. Fair market value is the amount of money a well-informed buyer and a well-informed seller would accept for property in an open and competitive market without any outside influence.
An important thing to remember is that Appraisers do not create value.
People actually determine value by their transactions in the market place. The Appraiser simply has the legal responsibility to analyze those transactions and appraise individual properties based upon what is happening in the market place.
The Appraisers Office does not determine taxes, but instead determines only the market value of the property. The amount of taxes each taxpayer pays is determined by all the taxing agencies, i.e., city, county, school districts, etc. and depends on the amount of taxes needed to provide all the services the taxpayers require. The assessed value is determined by multiplying the fair market value of the property, as determined by the county appraiser’s office, by the assessment rate as outlined in the State Constitution.
If you have any questions about your real estate values, please call (785) 421-2196.
By definition, real estate is land and anything permanently affixed to it, including buildings.
The County Appraiser is responsible for discovering, listing, and valuing all property within Graham County and must follow laws when meeting these responsibilities.
The first step in the appraisal process is to gather information concerning ownership, location, type of use, sales, building measurements, construction type, construction costs, and rental income.
Primary sources for this information are real property deeds, subdivision maps, building permits, local building contractors and office personnel who conduct on-site inspections to gather building contractors and interview owners. This information is stored by the County Appraiser, updated and maintained for current and future accepted appraisal process.
Each year the appraiser must review recent real estate sales and consider local economic conditions in order to maintain the most current value of property in the county.
What is Personal Property?
A key characteristic of personal property is the ability to move it without damage either to itself or to the real estate to which it is attached. Personal property becomes real property only if it is affixed in such a way that it loses its original physical character and cannot practically be restored to its original condition.
Personal property may be leased, loaned, rented, consigned, or owned. The basic categories include: business furniture, fixtures, plant equipment, office equipment, machinery, boats, aircrafts, mobile homes, and recreational vehicles.
What is Individual Personal Property?
Many Personal Property assets belonging to individuals are valued from market data using appraisal guides and state and regional market sources. This market data is then used to establish the current value of a particular asset. Typically, this value will be based on current trade-in values according to the age of the asset and market condition.
Examples of individual personal property that is to be reported to the County Appraiser are:
- Boats (inboard, outboard, sail, pontoon, etc)
- Jet Ski
- Vehicles (non-highway title, vehicles tagged with 16M or more weight)
- Trailers (utility, boat, car hauler, box, etc)
- Off-road vehicles (3 or 4 wheelers, golf carts, mopeds, dirt bikes, snowmobiles)
- Camper trailers/Travel trailers (those not qualifying as RV's)
- Aircrafts & Hangers
- Mobile Homes (if the title to the mobile home is different than who has title to the land it is located on)
Automobiles, light trucks, and motorcycles are classed separately by the State of Kansas.
What is Commercial Personal Property?
The valuation of owned or leased commercial personal property is based on the cost of assets. Assets are valued according to their cost when new, or their used acquisition cost, and the appropriate economic life. The asset is then depreciated over its economic life to a remaining salvage value.
Commercial and Industrial Machinery and Equipment purchased after June 30, 2006 is exempt.
Since January 1, 2007, any qualifying item of commercial personal property that originally cost $1500 or less is exempt.
How are taxes figured on Personal Property?
If the fair market value of your individual personal property is $5000 and if the assessment rate is 30%, this would mean the assessed value would be $1500 ($5000 x .30 = $1500).
Once taxing groups (school districts, cities, county, hospitals, etc) have finalized their budgets, these amounts are used to set the mill levies for each taxing district and calculate taxes.
Let's assume the combined mill levy (tax rate) has been set at 120 mills. Multiply the assessed value of your property ($1500) by the mill levy (120 mills or .120). This amount equals $180, which is your share fo the costs of public services.
Kansas Department of Revenue - Personal Property Forms and Information
Oil & Gas
The lease operator/taxpayer/tax representative is required to provide the information requested in Sections I-IV of the prescribed oil or gas rendition form and all other information necessary to figure the valuation of the property as determined by the Director of Property Valuation.
Failure to file a rendition on or before April 1 will result in penalties assessed to the operator.
The Prescribed Oil & Gas Rendition forms and Guide can be downloaded from the link below:
Kansas Department of Revenue - Oil & Gas Forms and Information
Kansas Geological Society