Market Study Analysis

       January 30, 2024

MORRIS COUNTY APPRAISER
RESULTS OF MARKET STUDY ANALYSIS
FOR MORRIS COUNTY
FOR THE ASSESSMENT YEAR 2024
PURSUANT K.S.A. 79-1460a

Annually, at least ten business days prior to the mailing of change of value notice pursuant to K.S.A. 79-1460a, and amendments thereto, the county or district appraiser shall cause to be published in the official county newspaper the results of the market study analysis as prescribed by the Director of Property Valuation of the Kansas Department of Revenue.

The Morris County residential real estate market indicated an overall 4.8% inflationary trend this past year. Most areas had on overall inflationary trend indicating a 5% increase in values while other areas which included the smaller rural towns only indicated a 1% to 2% inflationary trend.

Values on specific properties may not follow indicated trends because of changes in the property, correction of data or adjustment of value based on sales of similar properties. Some properties may increase to a greater rate while some properties may decrease or change in valuation only slightly.

A study of Morris County commercial real estate indicated that there is an overall inflationary trend of 1.9% per year.

A study of Morris County real estate market for vacant lots indicated that there is an overall inflationary trend of 7% per year.

Agriculture land values have been established by the Division of Property Valuation and Kansas State University. In accordance with the provisions in K.S.A. 79-1476, the Division of Property Valuation is required to annually furnish each county the results of its study related to changes, if any, of the use value of agricultural land. Changes can and do occur as a result of several factors including cropping practices, commodity prices and production costs. Agriculture land values overall decreased 2.0% in Morris County for 2024.

Ryan T Michaelis RMA
Morris County Appraiser