KS HB2394

Establishes a "tax use value" for residential, commercial, industrial real property and mobile homes, calculated as the lower of either fair market value or a multi-year average of fair market values

Phases in the averaging formula starting in tax year 2026, beginning with current year value only and adding one prior year annually until reaching a 7-year rolling average by 2032

New construction, improvements, or renovations that increase appraised value by 50% or more are valued at full fair market value for that tax year rather than the averaged amount

Applies to single-family homes, multi-family residential property, mobile/manufactured home communities, commercial and industrial buildings, and improvements on agricultural land

County clerks are responsible for determining the tax use value; amends K.S.A. 79-1439 governing property classification and assessment rates