Franklin County property owners will be receiving their 2018 Certified Value Notices for real estate this week.
The Franklin County Appraiser’s Office was expected to mail the notices for a delivery date of today or Friday, according to a news release.
Annual market studies showed that home values are likely to increase between 2 and 4 percent. Percentages reflect an “increase in demand for housing and continued historically low mortgage rates,” the release said.
Residential appraised values are based on fair market value using recent comparable sales; the price it would bring in an open, competitive market, the release said. These residential appraised values are then multiplied by the assessment rate of 11.5 percent to determine the assessed value, according to the release.
Commercial property owners should also expect a slight increase, the release said.
Copies of the Certified Value Notices and the 2018 property records are also available at www.franklin.kansasgis.com
Property owners can request a hearing on the new assessments and property records before March 30, according to the release. A hearing can be requested by contacting the appraiser’s office at (785) 229-3480 or in person at the office on the third floor of the Franklin County Courthouse, 315 S. Main St., Ottawa.