Market Study Analysis

January 22, 2024

WABAUNSEE COUNTY APPRAISER

RESULTS OF MARKET STUDY ANALYSIS

FOR WABAUNSEE COUNTY

FOR THE ASSESSMENT YEAR 2024

PURSUANT K.S.A. 79-1460a

                Annually, at least ten business days prior to the mailing of change of value notice pursuant to K.S.A. 79-1460a, and amendments thereto, the county or district appraiser shall cause to be published in the official county newspaper the results of the market study analysis as prescribed by the Director of Property Valuation of the Kansas Department of Revenue.

                The Wabaunsee County residential real estate market indicated that there is an overall inflationary trend of 6% per year. Most areas had an overall inflationary trend indicating a 6% increase in values while some areas only indicated a 2% inflationary trend, and the neighborhood of Lake Wabaunsee indicated an overall inflationary trend of 10% per year.

             Values on specific properties may not follow indicated trends because of changes in the property, correction of data or adjustment of value based on sales of similar properties. Some properties may increase to a greater rate while some properties may decrease or change in valuation only slightly.

A study of Wabaunsee County Commercial real estate indicated that there is an overall inflationary trend of 2.0% per year.

A study of Wabaunsee County real estate market for Vacant lots indicated that there is an overall inflationary trend of 6.9% per year.

Agriculture land values have been established by the Division of Property Valuation and Kansas State University. In accordance with the provisions in K.S.A. 79-1476, the Division of Property Valuation is required to annually furnish each county the results of its study related to changes, if any, of the use value of agricultural land. Changes can and do occur as a result of several factors including cropping practices, commodity prices and production costs. Overall, the Agriculture land values decreased overall 0.4% in Wabaunsee County for 2024.

Ryan T Michaelis RMA

Wabaunsee County Appraiser