Appraisal / Reappraisal

The office of the county appraiser is established for the purpose of providing the appraisals for the ad valorem tax base. It is an appointed office with the responsibility to discover, list, appraise, and maintain records of the data relating to all taxable and exempt real and personal property within Miami County.

In addition, the appraiser's office notifies each property owner annually of the appraised value of their property, holds valuation appeal hearings, and provides information to both the real estate community and public regarding both real and personal property.

 


                                                2017 RESULTS OF MARKET ANALYSIS 
 
Results of the market analysis for Miami County for the 2017 annual appraisals published pursuant to KSA 79-1460a are as follows:
A paired sales analysis based on valid sales of homes selling twice between January 2011 and September 2016 indicated an increasing trend of 3.2% annually. Current sales were trended using 1.0026% monthly to 1/1/2017 for depreciation analysis.
The residential real estate market in Paola of homes built after 1945 indicated an increasing time trend of 1.1%. The average selling price for homes in that category increased 2.9% per square foot during the 2014 through 2016 market term. Dwellings built before 1945 indicated an increasing trend for time of 2.73% based on 2014 through 2016 sales. In the 2015 to 2016 models the average sale price of pre-1945 homes increased 2.5% and the average sale price of post-1945 homes in Paola increased 3.1%.
The residential real estate market in Osawatomie indicated no trend for the time adjustment based on 2014 through 2016 sales. A study of the average selling price for homes during the same time period indicated an increase of 4.8%.
The residential real estate market in Louisburg and Spring Hill indicates a 0.4% per sq. ft. increase in the average sale price. The sales analysis indicated an increasing trend for time of 2.28%.
The market coefficient representing the trend for time in the rural area indicated an increase of 1.75% per year. The current model sales price per square foot increased 4.1% from the prior year model sales range.
In all residential models, changes in other model coefficients account for market differences not attributable to a time trend.
An analysis of vacant land sales occurring from 2006 through 2016 shows a slight increasing trend in sales occurring twice during the study period. Second sales from 2015 to 2016 showed an annual trend of less than 1% per year; generally a flat market. Overall, land sales for the 2016 analysis were not trended. Some neighborhood land sales were trended if additional studies resulted in a different trend than typical.
A paired sales analysis of the commercial real estate market utilizing only properties that sold twice with no significant property changes between the first and the second sale occurring in 2010 through 2016 indicated a slightly increasing trend of .0008% per month and was not utilized due to small sample size. However, the average price per square foot increased 6.0% from 2012 to 2016 utilizing typical property sales. The price per square foot study indicates that current sales have improved since the economic downturn. However, due to the few number of sales, the lack of a consistent trend and the lack of comparability, the price per square foot study was not considered usable as an overall trend indicator. In general, the 2017 commercial market would be considered to be flat with little trend either increasing or decreasing.
The result of the market analysis concludes that properties are generally worth more currently than in previous years. Individual property values may change by more or less than the indicated trend due to changes in other model coefficients, availability of more comparable sales and changes in market preferences.