Ellsworth County 2017 Market Study Analysis

(First Published in the Ellsworth County Independent/
Reporter, February 2, 2017)

RESULTS OF THE MARKET STUDY ANALYSIS
FOR ELLSWORTH COUNTY
FOR THE ASSESSMENT YEAR 2017

PURSUANT TO K.S.A. 1995
SUPP. 79-1460A

A study of the residential real estate market for older houses, i.e. built before 1945, indicated that there is an overall inflationary trend of 1.0% to 8.0%.
 A study of the residential real estate market for newer houses, i.e. built after 1945, indicated that there is an overall inflationary trend of 1.0% to 8.0%.
A study of the land (vacant & improved) real estate market indicated that the market is stable with an upward trend in the rural areas. They are as follows:

    Ellsworth City               Specific locations warranted a
            7% increase in value
    Holyrood City              Lots no Changes Warranted
    Kanopolis City               Lots no Changes Warranted
    Wilson City               Lots no Changes Warranted
    Lorraine City               Lots no Changes Warranted
    Lake Kanopolis             Warranted a 7% increase in value
    Rural Home Site          Specific locations warranted a
            8% increase in value
    Rural Secondary Site    Specific locations warranted a
            8% increase in value
    Rural Residual Site     Specific locations warranted a
            8% increase in value    
    Rural Undeveloped Site     Specific locations warranted a
            8% increase in value    
    Rural Other Site     Acreage no Changes Warranted

A study of the commercial real estate market indicated there is an overall inflationary trend of 1.5% to 8.0%.
Values on specific properties may change do to property characteristic data changing, correction of descriptive information, calibration of values based on sales of similar properties and a current sale of the subject property.
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 relating 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 (crop mix), commodity prices, new or updated soil type, production cost, Capitalization Rate and expenses. Ellsworth County has received the 2017 Agricultural Use Values from Property Valuation Department.,
The results are as follows: