Stagnant real estate sales mean a majority of houses will see no change in appraised value this year, Sedgwick County’s appraiser told county commissioners on Wednesday.
Sixty-three percent of houses will see no change in value this year, while 8 percent will see an increase and 29 percent will see a decrease, appraiser Michael Borchard said.
Homeowners whose valuations remain the same as last year will not receive a notice from the county. That move, approved by the state, saved the county about $40,000. The other valuation notices must be sent out by March 1.
New home construction came in at 636 last year compared with 1,687 in 2008, before the economy soured.
The median sales price of houses remained flat last year at roughly $135,000. However, that’s up from 2008, when the median sales price was just more than $125,000.
Commercial property sales were up at 530 last year compared with 460 in 2011. In 2008, there were 669 commercial property sales.
Commercial building permits were up last year as well at 1,943, compared with 1,335 in 2011. In 2008, the county issued 2,345 commercial building permits.
About 60 percent of commercial parcels will see no change in value. Twenty-three percent will see an increase, and 18 percent will see a decrease, Borchard said.
Half of agricultural parcels will see an increase in valuation this year in Sedgwick County.
There were 9,501 real estate sales in 2012, up slightly from 2011 but down from 12,569 from 2008.
Informal hearings for people appealing property valuations will begin March 19.
Property owners who don’t receive a valuation notice may review appraisal information online at www.sedgwickcounty.org beginning March 1. At that time, property owners also may print a notice from the website that includes appeal information.
To view appraisal information, click on the “Property Appraisals” link under the “How Do I?” menu at the top of the website’s home page.