Notices of valuation have been hitting Johnson County mailboxes this week. Did you get yours? If so, you likely noticed that property values jumped 7.9% on average, accounting for the biggest increase since 2012. A home’s appraised value is used to determine the amount homeowners pay in yearly property taxes to Johnson County and to their city of residence.
An increase of 7.9% (residents in Spring Hill, KS saw a 16.49% jump!) can be credited in part to a robust housing market. As we’ve noted in previous blog posts, the market is HOT and sellers are often receiving multiple full price, cash-in-hand offers on Day 1. Inventory is low.
Homeowners are given the opportunity to appeal their home’s appraised value, and must do so through the county no later than March 29, 2017. You would do this if you think the stated appraised value is more than you would reasonably get if you sold your property today. Click here to visit the county’s site and learn how to submit an appeal. For even more info, see the state’s website “The Property Tax Appeals Process in Kansas.”