The Appraiser's Department is responsible for determining the fair market value of all assessable properties. The appraiser analyzes trends in sales prices, construction costs, and rents to estimate such value. Real property and personal property is appraised as of January 1 every year. Partially complete new construction is appraised based upon its percentage of completion as of January 1. Market value (what a willing buyer and willing seller would agree to) is the basis of value for most real property except agricultural land. Agricultural land is appraised on the basis of its productivity and a formula determined by Kansas Constitution, statutes, and state guidelines. Most personal property (except business, machinery equipment, RVs, etc.) is also appraised at market value.
The County Appraiser is required to value real property, excluding land devoted to agriculture use, at fair market value. If your purchase is an open-market transaction, it may be used as a comparable property to value itself and like properties.
A calculation that can be used to estimate your property taxes after your purchase is:
Purchase Price X Assessment Rate X Mill Rate = Estimated Taxes