Results of the Market Study Analysis for Ellsworth County 2020

(First Published in the Ellsworth County Independent-
Reporter, February 6, 2020)

RESULTS OF THE MARKET STUDY ANALYSIS
FOR ELLSWORTH COUNTY 
FOR THE ASSESSMENT YEAR 2020 

PURSUANT TO K.S.A. 1995
SUPP. 79-1460A

A study of the residential real estate market for older houses, i.e. built before 1945, indicated that there is an overall inflationary trend of 1.0% to 4.0%.
A study of the residential real estate market for newer houses, i.e. built after 1945, indicated that there is an overall inflationary trend of 1.0% to 4.0%.
A study of the land (vacant & improved) real estate market indicated that majority of the land is stable with typically a downward trend. They are as follows:
(NOT AGRICULTURAL LAND)

• Ellsworth City           warranted a 3% to 12% Decline
• Ellsworth City (NBHD 195 (by the river))     warranted a 28%
Decline  
• Holyrood City            warranted a 6% to 10% Decline 
• Kanopolis City           warranted a 5% to 8% Decline  
• Wilson City            warranted a 8% to 9% Decline 
• Lorraine City          warranted a no change to a 6% Decline
• Lake Kanopolis         warranted a no change to a 5% Decline
• Lake Kanopolis (NBHD 680 (Lake Side Acres))    warranted a
 20% Decline
• Rural Primary Sites (Models 2 & 3)     warranted a no change to a 7% Decline
• Rural Primary Sites (Model 1)         warranted a no change to
a 10% Increase
• Rural Secondary Sites    warranted a no change to a 3%
Decline
• Rural Residual Sites    warranted a no change to a 14%
 Decline
• Rural Undeveloped Site     warranted a no change to a 8%
Decline
• Rural Other Site (Models 1 & 3)          warranted a no change
• Rural Other Site (Model 2) warranted a no change to a 20% Increase
A study of the commercial real estate market indicated stable values with typically no upward or downward trend.
Values on specific properties may change do to property characteristic data changing, correction of descriptive information, calibration of values based on sales of similar properties and a current sale of the subject property.
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 relating 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 (crop mix), commodity prices, new or updated soil type, production cost, Capitalization Rate and expenses. Ellsworth County has received the 2020 Agricultural Use Values from Property Valuation Department.