County
What is the primary source of revenue for local government?
Property Tax
“Includes not only the land itself, but all buildings, fixtures, improvements, mines, minerals, quarries, mineral springs & wells, rights & privileges appertaining thereto”
Real Property
How are tax rates expressed in Kansas?
Mills, mill levy
What is an ad valorem tax?
Tax according to value, property tax according to value
What are the three approaches to value?
Cost, Income, Sales Comparison
Name three county officers/offices that are elected.
Clerk, Commissioner, Register of Deeds, Treasurer
How many classes of property are considered in Article 11, KS Constitution?
Two, Real and Personal
Double question
What is the assessment rate on commercial real property? On residential real property?
25%, 11.5%
What are the three parts of the three-part fixture law test?
Annexation, Adaptation, Intent
How many counties are in the state of Kansas?
105 counties
Double question
Who is the head of county government? How many are typically on board?
“Every tangible thing which is the subject of ownership, not forming part or parcel of real property”
Personal Property
Are cost, price, and value always synonymous?
No. Cost-money to obtain, Price- amount asked/offered, Value- monetary worth
Name at least three items/services for which property taxes are used.
Roads, public works, schools, hospitals, etc
What are the three basic responsibilities of an appraiser?
Discover, List, Value
Which county officer/office records, maintains, and preserves land records of county?
Register of Deeds
According to K.S.A. 79-101, what property is taxable in Kansas?
All property in this state, real and personal, not expressly exempt
Which principle of value underlies the three main approaches to value?
Principle of Substitution
What are three of the six basic property rights commonly referred to as the “bundle of rights”?
Sell, Lease/Rent, Use, Give Away, Enter/Leave, Refuse
How many acres are in a ¼ section?
160 acres
Name a primary role of the county clerk.
Elections officer, fiscal/budget, payroll/HR, keeps seal, records all commission activity
Per K.S.A. 79-503a. “the amount well-informed buyer is justified paying & well-informed seller is justified accepting in open & competitive market, assuming parties acting without undue compulsion”
Market Value
PEGS are the four forces that affect property value. What are those forces?
Physical, Economic, Governmental, Social
What is the highest form of ownership where the owner has all legal rights except those reserved by government?
Fee Simple Interest, Fee Simple Absolute
Where does township numbering begin in a county?
NE Corner of county, 01