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KS HB2079
Bill
Status
1/23/2025
Primary Sponsor
Taxation
Click for details
AI Summary
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Comparable sales used to determine fair market value of residential property must occur within the same subdivision or township where the property is located, or in the closest-located subdivision or township if none exist locally
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Amends K.S.A. 2024 Supp. 79-503a, which defines "fair market value" for property tax purposes and lists factors appraisers may consider when valuing property
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Restricts how county appraisers can select comparison properties when using the sales comparison approach for residential property valuations
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Takes effect upon publication in the statute book
Legislative Description
Requiring that comparable sales of residential property occur within the subdivision or township or the closest-located subdivision or township where such property is located for valuing real property.
Last Action
House Referred to Committee on Taxation
1/23/2025