Land Use Value Appraisal

Property tax on Kansas farmland has been a hot topic recently. Perhaps it is time to review why use-value appraisal is appropriate. There are some very legitimate reasons why the Kansas constitution was changed in 1986 to value agricultural land for property tax purposes based on its income-producing ability rather than its market value. Land has traditionally been regarded as a store of value and a safe haven for capital in uncertain economic times.

Continue reading