Owners of heavy machinery and equipment might soon get a little bit of sticker shock.
The Allen County Appraiser’s office is mailing property valuation notices on Friday for personal property that could show significant increases — double, triple and even quadruple what they were valued at last year.
That affected includes such things as commercial machinery and equipment, trucks and trailers, boats, utility vehicles, four-wheelers, jet skis, and four-wheelers, jet skis, and oil and gas.
For heavier trucks and trailers, the valuation has skyrocketed, County Appraiser Jami Clark said.
She expects it will affect area farmers in particular, as they are more likely to own those types of property.
The increased valuation doesn’t necessarily mean property owners will face significantly higher tax bills, though it is possible.
Taxes are calculated using the assessed value times the mill levy. If values go up but spending remains the same, the mill levy (tax rate) will be lower and may not have much effect on the tax bill.
The amount of taxes due won’t be known until notices go out in November, after the various taxing entities complete and submit their annual budgets to the county. The first half of property taxes will be due on Dec. 20, 2022, and the second half in May 2023.
But Clark said she wanted to make sure property owners were aware of the increase and why it was happening.
“Some people don’t even look at these notices until they becomes a tax dollar,” she said.
CLARK said her staff started to notice the spike in values over the past few weeks as they began to prepare valuation notices.
She called the Kansas Department of Revenue, and also discussed the matter with other county appraisers across the state.
The values have increased because of supply and demand, she was told. The price of used vehicles has gone up drastically, and that has resulted in increased value for certain types of property.
The issue hasn’t seemed to affect personal motor vehicles, at least not yet, as registration fees remained similar to last year.
It also hasn’t affected all types of personal property, Clark noted. Boats and other types of watercraft are comparable to last year.
The increase seems to affect mostly heavier trucks, trailers and equipment.
