By Kylie Cameron/The Wichita Eagle
Tax valuations will increase for 87% of homeowners in Sedgwick County this year.
The average median increase for residential properties is 9%. Notices will be mailed out March 1.
Last year, 60% of residential property owners saw an increase in valuation, with a 10% median increase.
Tax appraisal increases are driven by the sales prices of new and existing homes.
“Demand is high and the supply of homes is tight, thus prices increase as a result of this continuing imbalance,” county appraiser Mark Clark told county commissioners.
The median sale price for a home in Sedgwick County increased to $250,000 last year — up by 3% from $243,200 in 2023. The first year the county’s median price point topped $200,000 was 2021.
Sedgwick County still lags behind in its supply of residential properties.
Clark attributed that to relatively high interest rates and high residential property prices.
“People don’t want to let go of those low interest rate mortgages,” Clark said.
Tax valuations increased for 73% of commercial properties this year, with a median increase at 11%. Commercial property sales increased by nearly 3%, but permits for new commercial properties decreased by 13.9%.
“Supply chain issues continue to disrupt the completion of projects,” Clark said.
“Therefore, projects are taking longer to complete, and there are fewer permits that are being taken out.”
Most agricultural parcels, 58%, saw a decrease in valuation with a 13% median decrease.
Later this year, the county will set a budget based on the cost of providing government services, which determines the property tax rate, also called the mill levy.
Climbing valuations could lead to higher property taxes unless the County Commission lowers the mill levy. During last year’s budget process, the county lowered its mill levy to 28.659 mills for 2025, or by about one-third of a mill compared with 28.988 mills in 2024.
Property taxes can be calculated by multiplying the assessed value of a property by the mill levy.
For Wichita homeowners living in the Wichita school district, local property taxes would see a median increase of $105.96 for each $100,000 of the home’s value, based on the current mill levy rates set by Sedgwick County, Wichita and the school district. That does not include state, Sedgwick County Fire District or Wichita State University mill levies.
“Valuation increases do not automatically mean you’re going to have property tax increases. … People are going to immediately assume that,” Commissioner Ryan Baty said. “The budget process with your local jurisdictions are what determines that.” Under state law, appraisers must inspect each county property every six years and reassess property value annually in a uniform and equal manner. If property owners don’t think the appraiser’s estimate reflects market value, they can appeal by filling out the back of their value notices and returning them to the Sedgwick County Appraiser’s Office within 30 days. Appeal meetings will be conducted over the phone beginning on March 17.
Contributing: Chance Swaim of The Eagle
This article was republished here with the permission of: The Wichita Eagle