A Kansas county appraiser has set the appraised value of Tom's commercial warehouse at $500,000. Tom disagrees and files an informal appeal, but the county appraiser upholds the original value. What is Tom's next step in the Kansas appeal process?
Correct Answer
C) Request a hearing before the County Board of Equalization
After an unsuccessful informal appeal with the county appraiser, the next step under Kansas law (K.S.A. 79-1609) is to request a hearing before the County Board of Equalization (BOE). The BOE conducts a formal hearing and issues a written decision. Only after receiving an unfavorable BOE decision may the taxpayer appeal further to COTA or district court.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Highest and best use is an appraisal concept that identifies the most profitable, legally permitted, physically possible, and financially feasible use of a property. It is the foundation of all property valuation.
Homestead portability allows homeowners to transfer a portion of their accumulated homestead tax savings to a new homestead in the same state.
The income approach estimates a property's value based on the income it generates by converting net operating income into a value estimate using a capitalization rate. It is the preferred method for income-producing properties.
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- → The income approach to appraisal is most commonly used for which type of property?
- → Which formula correctly calculates the capitalization rate?
- → External obsolescence in Oklahoma:
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- → Which of the following correctly lists the three types of depreciation recognized in real estate appraisal?
- → The sales comparison approach to appraisal is most commonly used for which type of property?
- → Which four tests must a use satisfy to qualify as the highest and best use of a property?
- → Three depreciation:
- → Cap rate:
- → Which formula best represents the cost approach to appraisal?
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