More than 206,000 Notices of Appraised Value are being mailed to Johnson County property owners this week, beginning on Monday, Feb. 26.

While Johnson County experienced double-digit average increases in valuations the past three years, the county is experiencing single-digit increases this year.

In the county, property values are generally continuing to increase, with about 90% of residential values seeing an increase for the 2024 valuation year. This reflects a steady residential real estate market in 2023.

The average residential property increase across the county is around 7.5% (excluding apartments), and approximately 80% of residential property values changed by 10% or less or experienced a reduction in value. This sector increased by about 12% last year.

“We have seen a return to increase rates in property that we saw before the pandemic,” said Johnson County Appraiser Beau Boisvert. “Today, while higher interest rates and other market factors have tempered price increases somewhat, we still see property values increasing as residents and businesses continue to see Johnson County as a desirable place to live and work.”

By state law, property is appraised at fair market value, as it exists on Jan. 1 of each year. Fair market value means the amount that a well-informed buyer is justified in paying and well-informed seller is justified in accepting in an open, competitive market.

To stay in compliance, the County Appraiser must appraise homes within 90-110% of their value.

Homeowners will find on the back of their NOAVs information about the appeal process should they disagree with the appraised value. NOAVs can also be accessed online. The Appraiser’s Office has launched a new appeals portal for property owners to file an online appeal. Learn more at the Appraiser’s Office website.

Learn more about the appraisal process in the latest JoCo on the Go podcast, which features an interview with the county appraiser. View the map above for further details about which parts of the county experienced increases and by how much. The information was delivered along with the County Appraiser’s slide presentation to the Board of County Commissioners on Thursday.