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nwobcw
Advisor

Re: ks ag real estate property tax 472% increase

when have you ever heard of the school say we have enough money we don't need anymore
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sw363535
Honored Advisor

Re: ks ag real estate property tax 472% increase

Property taxes will never go away --------- They are one of those "Tax the few for the good of the whole" issues.  Advocates for the poor will cry a river and never see that the $300 a month  property tax on a modest house is part of what keeps the poor poor....... and renting.  

Before this increase many places in KS. have higher monthly property tax bills  on houses than utilitiy bills.  

 

 

 

 

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sw363535
Honored Advisor

Re: ks ag real estate property tax 472% increase

Those in trouble in property tax issues are the elderly trying to hold on to their property.  But who cares if we can get those "Koch Brothers"........  🙂

Kay/NC
Honored Advisor

Re: ks ag real estate property tax 472% increase

If valuations are only done every few years, and are based upon comparable sales, this round should likely lower taxes on housing, and greatly increase them on farmland.

This happens when prices of a class ofvreal property exoeriences a boom. There was a virtual taxpapyer revolt in our home clunty in VA in 2009, based upon pre-housing-crash home values.

You have to figure that if valuations are done every five years or so ( VA county does ours every four years, NC one every six years, so I split the difference), there will be times when a high tide will catch the cycle at the point where inflated values will really screw you for several years, until the next valuation arrives.

The county governments are really compelled to use this methodology, at least where we live and farm. Local givernments in "Dillon's Rule" states can only do what the state allows them to do, the way the state allows them to do it. Sucks, but it is supposed to avoid favoritism....
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sw363535
Honored Advisor

Re: ks ag real estate property tax 472% increase

Kay, 

I am not great on the details but Kansas went away from sales valuation for agriculture several years ago.  It became a "land use formula" which takes into account several aspects of production.

I think it was conceived as a floating formula that would keep prop. tax current to income potential.  And I think it was viewed as raising taxes on ag. land to meet farm income.  

IMO it actually took taxes lower in many cases because the formula actually addressed net farm income and not just Gross farm income.

It also leaves out all speculative value,  which is much of what property value is based on --- ie potentials like minerals, water, location, frutre developments like housing or industry.  And sheer competition between farmers or family members or buyers from out of state.

 

My hope was Ks would explore other forms of income---- sales tax, etc.-- as the property tax formula failed to inflate like sales appraisals tend to.  

 

Farm Property taxes are a practice in rural states that IMO might even be challenged constitutionally.  In the way they target a small voting base to carry disproportionate tax burdon.  In western Ks The % of property owners who are out of state residents is huge.  That group is taxed without representation.

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elcheapo
Veteran Advisor

Re: ks ag real estate property tax 472% increase

Well we have a problem...the retirement fund
Is divested in the stock market. We must
Do that because we don't have enough money
so to pay benefits we "barrow it"...(issue
Bonds)...works as long as the markets up.
But if it drops, we loose principle.

Yes our state didn't take medicade money,
Claiming in 5 years we'll have to pay 100%
Well, the truth is in 5 years you will still
Have to pay 100%. I know a fellow that runs
a hospital. He said it was just plain stupid.
As of now, if medicade you would get
30% or more. Now in some cases you
Get zero. He said we are hurting the most
Poor/ill. He said he saw 3 die in his hospital
directly due to that issue.

The question is, where is the money going?

I've noticed the state highway dept has new
Trucks and equipment. A county road and
bridge man told me that they get on a
waiting list to get the motor graders, the
State turns in. They lease new, pay out
The nose, and get rid of them, and do
It again.

I used to be proud of where I was from

No more
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Kay/NC
Honored Advisor

Re: ks ag real estate property tax 472% increase

We get a " use-based deferral" on ag and forest land in both states. Works quite differently in each one, but both charge 4 or 5 years of rollback, and recapture the deffered taxes in arrears if the land leaves the immediate family.

Costs of Community Services Studies show universally that ag and woodlands pay way more in than they take out of a community. Hardly fair, but probably all that keeps most poorer counties afloat.

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elcheapo
Veteran Advisor

Re: ks ag real estate property tax 472% increase

Interesting. This was under the market
Section but now "just business"
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Shaggy98
Senior Advisor

Re: ks ag real estate property tax 472% increase

Sometimes admin moves threads to a new location if it is better suited for that board.

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sw363535
Honored Advisor

Re: ks ag real estate property tax 472% increase

Works better than us all yelling "Your in the wrong room"

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