OLATHE—The Johnson County Appraiser’s Office has released the annual Notices of Appraised Values (NOAVs) for 2019, with 197,967 notices mailed to residential property owners today, Monday, Feb. 25. Ninety-three percent of residential values increased for the 2019 valuation year. Out of that, 76 percent of residential property values increased by 10 percent or less. The average increase across the county is 5-8 percent.
“Although we’re still seeing strong values in the northeast, we are not seeing the frenzied pace that we experienced last year,” said Johnson County Appraiser Paul Welcome. “The market has cooled, but we are still very much in a seller’s market.”
On or before March 1 each year, the County Appraiser mails NOAVs to real estate property owners. Commercial NOAVs were mailed on Feb. 11. The residential notice provides the current year and prior year history of property valuations.
The assessed value of a property is established by the County Appraiser. 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. A property’s appraised value will go up or down depending upon the local housing market. When supply is low and demand for homes is high in the area, property values go up. The appraiser uses local market sales data to generate a property value and analyze the property based upon its age, size, style of construction and replacement cost. The county must appraise homes within 90 to 110 percent of their value.
For a complete look at final value averages and the percent change by area, visit pages 37-42, of the 2019 Johnson County Appraiser’s Office Revaluation Report, February 2019.
Areas that experienced the highest increases include:
New this year, residential appeals can be filed online. The mailed NOAV will have a unique PIN that must be used for online appeal. The deadline for residential appeals is March 27. The deadline for commercial appeals is March 13.
Also new in 2019, a webpage has been launched that allows residents to access our mapping and property value information in a single location. By March 1, residents can find a PDF version of their NOAV on the webpage.
“We know this information is important to each Johnson County property owner,” Welcome said. “It’s our goal to provide fair, accurate and appropriate valuations, while providing the best possible customer service to residents.”
For more information about NOAVs, visit the Appraiser’s Office.