The second of the appraiser's duties is to value equitably and at fair market value all property identified as of tax day - January 1 of each year. This involves first determining if the property is taxable. Unless specifically exempted by the State of Kansas or by the State Board of Tax Appeals, all tangible assets, land and buildings and personal property in the state are taxable. Once the owner of the property is identified through the inventory process, the property must then be accurately valued at its fair market value. An important thing to remember is that appraisers do not create value.
People determine value by their transactions in the market place.
The appraiser simply has the legal responsibility to analyze those transactions and appraise individual properties based upon what is happening in the market place. The appraiser's office does not determine taxes, but instead determines only the market value of the property. The amount of taxes each taxpayer pays is determined by all the taxing agencies, i.e., city, county, school districts, etc. The assessed value is determined by multiplying the fair market value of the property, as determined by the County Appraiser's office, by the assessment rate as outlined in the state constitution. Release Suggestions Web support and questions .