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Terms Used In Kansas Statutes 79-411

  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Property: includes personal and real property. See Kansas Statutes 77-201

The appraiser from actual view and inspection or from statistical methods prescribed by the director of property valuation, from consultation with the owner or agent thereof if expedient and from such other sources of information as are within the appraiser’s reach, shall determine as nearly as is practicable the fair market value in money of all taxable real property within the county and assess the same as required in Kan. Stat. Ann. § 79-1439, and amendments thereto.