Sharp hike in commercial grain elevator valuations
Commercial grain elevator owners in Scott County are protesting a sharp increase in the appraised valuation of their facilities.
A change in the formula for determining the value of storage facilities has been put in place, effective with the 2019 tax year, by the Kansas Property Valuation Department.
It has added about $1.5 million to the value of the operations in Scott County. Appraisal values are up about $1 million in Wichita County.
As expected, the sharp increase in value - and the property tax bill that comes with it - has caught the attention of local operators.
“We’ve been getting feedback,” acknowledges County Appraiser Rangy Sangster. “When you see an increase of $600,000 it gets your attention.”
He began having hearings with elevator operators/owners on Monday. Those hearings will continue through April 18.
Part of the increase is due to facility upgrades that have been made in recent years. The Scott Co-op, for example, added a 350,000 bushel upright bin in 2017 at its Scott City location. In that same year, the Co-op expanded its Selkirk facility with three more 350,000 bushel bins.
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