Property values increase for most homeowners in Sedgwick County

Most homes in Sedgwick County increased in value this year. That could mean higher taxes for a majority of homeowners if tax rates don’t change.

A growing economy and a seller’s market has increased home values for 78 percent of residential properties in Sedgwick County, according to a report by the Sedgwick County Appraiser’s Office.

If you’re planning to sell your home, an increase in valuation is good news and could lead to a higher listing price. But if you’re planning to stay in your home, an increase in valuation — a major variable in property tax assessments — could lead to higher property taxes.

On Friday, the county mailed valuation notices to about 89 percent of homeowners. That’s the percentage of homeowners whose property values changed.

More than three-quarters of properties increased in value by an average of 4.5 percent, according to a report by the Sedgwick County Appraiser’s Office. That’s up from 59 percent that increased by an average of 5 percent last year.

“A stabilizing and growing economy with high demand for homes and a limited supply has increased home prices in the market,” said Mark Clark, interim Sedgwick County appraiser.

Eleven percent of homes decreased in value, and the remaining 11 percent stayed the same. Those numbers were 6 percent and 35 percent last year.

If you don’t get a notice, your property value stayed the same, but it’s worth looking up online — just in case, Clark said.

Property owners may view their appraisal information at sedgwickcounty.org.

The median residential parcel in Sedgwick County sold for $160,000 last year, a 2.9 percent increase from 2017, Clark said.

Homes around that price are a hot commodity.

“If you have a home that is ready to go, people are ready to buy it,” Clark said. “They move very quickly (at that price).”

This year’s increases are in line with the historic average for Sedgwick County, Clark said.

If your home was worth $100,000 last year and increased in value by 4.5 percent this year, you would end up paying $1,362.61 in property taxes this year, if the tax rate doesn’t change. That’s an extra $60.66 in property taxes.

If the tax rate doesn’t change, the owner of a $150,000 house that increased in value by 4.5 percent would pay $90.99 more. The owner of a $200,000 home would pay $121.31 more.

How to appeal

Taxpayers have a right to contest the appraised values on property.

If you don’t think your home has been valued at fair market value — what an informed buyer is willing to pay and an informed seller is willing to accept in an open market — there are two ways to contest. You can pick only one of them each year.

The first opportunity to contest the valuation of your home is to file an informal appeal after receiving a value notice. The other way is payment under protest in December. Protest forms may be filled out at the county treasurer’s office, 525 N. Main, or you can call 316-660-9000.

If you choose to appeal, you must sign the form that comes with your valuation notice and send it back to the address listed within 30 days of the date shown on the notice.

Then, an informal meeting with an appraiser will be scheduled. Failure to appear at that meeting will forfeit the right of protest for the year. The last date for an informal meeting is May 15.

At the informal meeting, the county must provide evidence to support the property’s valuation. It’s also the taxpayer’s opportunity to explain why the county’s value is wrong.

Here are some ways to prepare for an appeal, according to the Kansas Department of Revenue:

▪ Get the county’s information. It might be useful to have the county provide a comparable sales report that compares your home to up to five others it considers similar in value. Ask for any information the county used to value your property.

▪ Gather your own information. One way to contest your valuation is to drive by the homes the county listed as comparable and take photos of things about the homes you think make them different (without trespassing). Google Maps is also a powerful tool for comparing properties.

According to the Kansas Department of Revenue, those images can be used as evidence during your appeal or hearing.

▪ If you bought your home within the past two or three years, bring a sales contract for your property. Also bring repair estimates of the cost to repair any structural damage the county may not have fully considered.

The county will mail you written results of the informal hearing. If you still disagree, you may be able to file another appeal with the state.